About GlobalData
Executive Summary
Players
Trends
Industry Analysis
Objectives and Methodology
Overview of M&A Activity 2018-2020
Target Characteristics
Acquirer Characteristics
Geography
Top Acquirers
Segment Close-Ups of M&A Activity, 2018-2020
API-Biologic
API-Small Molecule
Commercial Dose Manufacturing
Analytical Services
Packaging
Deal Advisors
Top Financial Advisors
Top Legal Advisors
Valuations
Facility Acquisitions
What It Means
The Outlook for M&A
API-Biologic Targets
Past Predictions
Value Chain
Companies
Appendix
Methodology
Bibliography
Primary Research - Key Opinion Leaders
Further Reading
About the Authors
Contact Us

List of Tables
Table 1: CMO M&A Trends, 2018-2020
Table 2: Company Acquisitions by Target Service Offering and Year, 2018-2020
Table 3: Company Acquisitions by Target Service Offering and Target Ownership, 2018-2020
Table 4: Company Acquisitions by Target Service Offering and Deal Region, 2018-2020
Table 5: Company Acquisitions by Target Service Offering and Acquirer Ownership, 2018-2020
Table 6: Services Deals with Known Transaction Value and Multiples, 2018-2020
Table 7: Facility Acquisitions by CMOs, 2018-2020
Table 8: Acquisitions by PE Firms, 2018-2020
Table 9: Potential Targets: API-Biologic (Protein & Peptide) Service Providers
Table 10: Potential Targets: API-Biologic (Gene and Cell Therapy) Service Providers
Table 11: Company Acquisitions and Private Equity Deals, 2018-2020
Table 12: Further Reading

List of Figures
Figure 1: Leading Acquirers in the Global Pharma CMO Industry, 2018-2020
Figure 2: Top M&A Trends in the CMO Industry, 2018-2020
Figure 3: CMO M&A Activity, 2018-2020
Figure 4: CMO M&A Activity by Year, 2018-2020
Figure 5: Company Acquisitions by Target Service Offering, 2018-2020
Figure 6: Company Acquisitions by Target Ownership, 2018-2020
Figure 7: Acquisition Targets by Sophistication of Capabilities
Figure 8: Number of Acquisitions 2018-2020 by Acquirer's Core Business
Figure 9: Number of Acquisitions by Acquirer's Ownership
Figure 10: Number of Acquisitions by Deal Country (Top Four), 2018-2020
Figure 11: Most Active Acquirers, 2018-2020
Figure 12: Dose Forms Manufactured by Acquired Dose Manufacturers, 2018-2020
Figure 13: Top Financial Advisors to Company Acquisitions, 2018-2020
Figure 14: Company Acquisition Top Legal Advisors, 2018-2020
Figure 15: Pharma CMO Facility Acquisitions, 2018-2020
Figure 16: The Contract Manufacturing Value Chain

Companies Mentioned
- 3P Biopharmaceuticals SL
- A. Menarini Industrie Farmaceutiche Riunite Srl
- AB BioTechnologies Inc
- ABL Lyon SAS
- ABS (Aus) Pty Ltd
- Absorption Systems LLC
- Abzena Ltd
- Ache Laboratorios Farmaceuticos SA
- ACS Dobfar SpA
- ADC Biotechnology Ltd
- Advent International Corp
- AGC Biologics Inc
- AGC Inc
- Akron Biotechnology LLC
- Alcaliber SA
- Alcami Corp
- Aldevron LLC
- Alliance Contract Pharma LLC
- ALS Ltd
- Altasciences Co Inc
- AmbioPharm Inc
- AMPAC Fine Chemicals LLC
- Ampersand Capital Partners
- Anjan Drug Pvt Ltd
- Aphena Pharma Solutions Inc
- AptarGroup Inc
- Arc Trinova Ltd
- Arcline Investment Management LP
- Ardena Holding NV
- Arena Pharmaceuticals GmbH
- As Produksjonslab AS
- Asahi Kasei Pharma Denmark A/S
- Ascendis Health Ltd
- AstraZeneca Plc
- Astro Bidco Ltd
- Aurisco Pharmaceutical Co Ltd
- Avaca Pharma
- Avanti Polar Lipids Inc
- Avara Pharmaceutical Services Inc
- Avista Capital Holdings LP
- Bain Capital Private Equity LP
- Bayer AG
- Benchmark Holdings PLC
- Berkshire Sterile Manufacturing Inc
- BGF Investments LP
- Bio V Pharma Inc
- BioAgilytix Labs LLC
- Bio-Concept Laboratories Inc
- Biocult BV
- BioDuro LLC
- Biogen Denmark Manufacturing ApS
- Bionova Scientific Inc
- BioScreen Testing Services Inc
- Biospring Partners
- BioVectra Inc
- Biovian Oy
- Bora Pharmaceuticals Co Ltd
- Bridgepoint Advisers, Ltd.
- Bridgewest Australia Holdings LLC
- BrightGene Bio-Medical Technology Co Ltd
- Bristol-Myers Squibb Co
- C.O.C. Farmaceutici Srl
- Cadila Healthcare Ltd
- Cambrex Corp
- Capua BioServices SpA
- Carlyle Asia Partners V LP
- Catalent Inc
- Cell and Gene Therapy Catapult
- CELLforCURE
- Cellix Bio Pvt Ltd
- Centrient Pharmaceuticals Netherlands BV
- Charles River Laboratories International Inc
- Charnwood Molecular Ltd
- ChemConnection BV
- Chemical Solutions Ltd
- CiToxLAB Group
- Civentichem LLC
- Claris Lifesciences Ltd
- Clean Cells SAS
- Clinigen Group Plc
- Cobepa SA
- Cobra Biologics Ltd
- Cognate BioServices Inc
- Concept Life Sciences Ltd
- Consort Medical Ltd
- Contract Pharmaceutical Services of Australia Pty Ltd
- Control Laboratory & Analysis SA
- Coripharma
- Corona Remedies Pvt Ltd
- Cosette Pharmaceuticals Inc
- Covance Inc
- Croda International Plc
- C-squared Pharma Sarl
- Curida AS
- CX Partners LLP
- Cytiva
- Dalton Pharma Services
- Danaher Corp
- Delpharm SAS
- Dhanuka Laboratories Ltd
- Dr. Reddy's Laboratories Ltd
- Echo Pharmaceuticals BV
- Elion Labs
- EQT IX Fund
- Escientia Life Science LLC
- Eubioco SA
- Eurofins Advinus Ltd
- Eurofins Scientific SE
- Euticals SpA
- Evotec SE
- EW Healthcare Partners
- Famar Health Care Services
- Fareva SA
- Farmaceutici Procemsa SpA
- Flamma SpA
- FPCI Capital Sante 2
- Frontage Laboratories Inc
- FTF Pharma Pvt Ltd
- Fujifilm Diosynth Biotechnologies USA Inc
- Fujifilm Holdings Corp
- FUJIFILM Toyama Chemical Co Ltd
- G&W Laboratories Inc
- Gamot API Pte Ltd
- General Atlantic LLC
- Genovis AB
- Genscript Biotech Corp
- GHO Capital Partners LLP
- GlaxoSmithKline Plc
- Gomti Life Sciences India Private Limited
- Goodwin Biotechnology Inc
- Granules-Biocause Pharmaceutical Co Ltd
- Great Point Partners, LLC
- H.I.G. Capital LLC
- Hebei Hejia Pharmaceutical Group Co Ltd
- Hikma Pharmaceuticals Plc
- Honeywood Ltd
- Horizon Discovery Group Plc
- Hubei Biocause Pharmaceutical Co Ltd
- Hycult Biotech BV
- Impopharma Canada Ltd
- Importfab Inc
- India Life Sciences Fund II
- India Life Sciences Fund III
- Industria Chimica Emiliana SpA
- Industria Farmaceutica Melcon do Brasil SA
- Infinity Laboratories
- Intas Pharmaceuticals Ltd
- Intermediate Capital Group Plc
- Investindustrial Growth
- IPCA Laboratories Ltd
- Iwaki & Co Ltd
- Iwaki Seiyaku Co Ltd
- Jiangsu Chengxin Pharmaceutical Co Ltd
- Jiangxi Fushine Pharmaceutical Co Ltd
- JSC Biocom
- JSFC Sistema
- Juniper Pharmaceuticals Inc
- Just Evotec Biologics Inc
- Kalexsyn Inc
- KBI Biopharma Inc
- Keensight Capital
- Kemp Proteins LLC
- Kirin Holdings Co Ltd
- Kohlberg & Company LLC
- Konsyl Pharmaceuticals Inc
- Kymos Pharma Services SL
- Kyowa CritiCare Co Ltd
- Kyowa Hakko Bio Co Ltd
- La Chandra Pharmalab Pvt Ltd
- Laboratorium fur Betriebshygiene GmbH
- LDO SpA
- Leonard Green & Partners LP
- LGM Pharma LLC
- LIVIA Corporate Development SE
- Lonza Group Ltd
- Lusomedicamenta - Sociedade Tecnica Farmaceutica, S.A
- Lyophilization Services of New England Inc
- Madison Dearborn Partners LLC
- Malgrat Pharma Chemicals, S.L.U.
- MaSTherCell SA
- Mercachem-Syncom Group
- Mercia Asset Management PLC
- Merck & Co Inc
- Mikart Inc
- Minaris Regenerative Medicine GmbH FKA apceth Biopharma GmbH
- Minaris Regenerative Medicine LLC
- Mitsubishi Chemical Holdings Corp
- Mitsubishi Tanabe Pharma Corp
- MolMed SpA
- MPI Research Inc
- Murli Krishna Pharma Pvt Ltd
- Naari Pharma Pvt Ltd
- Nanjing Hongjing Enterprise Management Consulting Co., Ltd.
- Naobios
- Natural Capsules Ltd
- Nautic Partners, LLC
- neo ALA Co Ltd
- Nevu Sp Zoo
- New England Peptide Inc
- New Zealand Pharmaceuticals Ltd
- Nexgen Pharma Inc
- Nipro Pharma Corp
- Nitin Lifesciences Ltd
- Novartis AG
- Novast Holdings Ltd
- Nx Phase Capital Inc.
- Olon Ricerca Biosciences LLC
- Olon SpA
- Opocrin SpA
- Orchid Pharma Ltd
- Orifarm Group A/S
- Oxford Genetics Ltd
- Pace Analytical Services LLC
- PAMA Holding Sarl
- Paragon Bioservices Inc
- Patheon NV
- Patheon Viral Vector Services
- PCI Pharma Services
- Peptides International Inc
- Permira Advisers LLP
- Pfizer Inc
- PharmaBlock Sciences Nanjing Inc
- Pharmaceutical Associates Inc
- Pharmaceutical Packaging Professionals Pty Ltd
- Pharmaron Beijing Co Ltd
- Pharmatis SAS
- PharmaZell GmbH
- Pihex - Investimentos Imobiliarios, Lda
- Pilatus Pharma Ltd
- Piramal Pharma Solutions Inc
- Pisgah Labs Inc
- Porton Pharma Solutions Ltd
- Probiotec Ltd
- Prolytic GmbH
- Pronomz Ventures LLP
- PSC Biotech Corp
- QED Bioscience Inc
- Quadrants Scientific Inc
- Quality Packaging Specialists International LLC
- Quotient Sciences Ltd
- RA Chem Pharma Ltd
- Raichem Medicare Pvt Ltd
- Ramdev Chemicals Pvt Ltd
- Recipharm AB
- Rentschler Biopharma SE
- Rubicon Research Pvt Ltd
- Samco Gold Limited
- Sandoz Industrial Products SpA
- Sanofi
- Seikagaku Corp
- Selcia Ltd
- SGS SA
- Shandong Jincheng Pharmaceutical and Chemical Co Ltd
- Shandong Luoxin Pharmaceutical Group Stock Co Ltd
- Shanghai Ruiyi Investment Development Center
- Sharp Packaging Services
- Shilpa Medicare Ltd
- Shire Pharmaceuticals International UC
- SI Group Inc
- Siegfried Holding AG
- Signet Healthcare Partners
- SIX.02 Bioservices LLC
- SK Capital Partners LP
- SK Inc
- Solara Active Pharma Sciences Ltd
- Solvias AG
- SONEAS Chemicals Ltd
- Sorrento Therapeutics Inc
- Spectris Plc
- Spera Pharma Inc
- STA Pharmaceutical Co Ltd
- Stemline Therapeutics Inc
- Sterling Pharma Solutions Ltd
- Strides Chemicals Private Limited
- Strides Pharma Science Ltd
- SUANFARMA Italia SpA
- SuanFarma SA
- Symbiotec Pharmalab Ltd
- SYNLAB Analytics & Services Germany GmbH
- Synova Capital LLP
- Syntagon AB
- Tanabe Seiyaku Yoshiki Factory Co., Ltd.
- Tergus Pharma LLC
- Teva Pharmaceutical Industries Ltd
- Teva Takeda Pharma Ltd
- The Carlyle Group LP
- The EQT VIII fund
- Therapiva Pvt Ltd
- Tjoapack BV
- Torii Pharmaceutical Co Ltd
- TPG Growth LLC
- TriPharm Services Inc
- Tubilux Pharma SpA
- UI Gestion SA
- ValueAct Capital Management, L.P.
- Veeda Clinical Research Pvt Ltd
- VelaLabs GmbH
- Velesco Pharmaceutical Services LLC
- Veloxis Pharmaceuticals AS
- Vetter Pharma-Fertigung GmbH & Co KG
- Viatris Inc
- Vibalogics GmbH
- Vigene Biosciences Inc
- Viva Biotech Shanghai Ltd
- Vivimed Labs Spain SL
- Vivimed Life Sciences Pvt Ltd
- Wasdell Packaging Group
- Weifang Yaxing Chemical Co Ltd
- Windlas Biotech Pvt Ltd
- Windlas Healthcare Pvt Ltd
- WuXi AppTec Co Ltd
- WuXi Biologics Cayman Inc
- WuXi Pharmatech (Cayman) Inc
- Xiamen Kingdomway Group Co
- Zhejiang Better Pharmaceuticals Co Ltd
- Zhejiang Doyin Pump Industry Co., Ltd.
- Zhejiang Hisyn Pharmaceutical Co Ltd
- Zhejiang Jiuzhou Pharmaceutical Co Ltd
- Zhejiang Langhua Pharmaceutical Co Ltd
- Zhejiang Raybow Pharmaceutical Co Ltd
- Zhejiang Starry Pharmaceutical Co Ltd
- Zhejiang Sunflower Light Energy Science & Technology LLC