US life sciences giant acquires Glasgow drug company
A Glasgow pharmaceutical plant has been sold by its US owner to another American company for $24m (£16m).
Aptuit Glasgow manufactures sterile injectable drug products and clinical stage medicines.
The plant has been sold by Connecticut-based Aptuit to Albany Molecular Research Inc (AMRI), a Nasdaq-listed firm headquartered in New York State.
It was part of a $60m (£40m) deal which included the sale of another Aptuit plant, in Indiana, to AMRI.
AMRI president and chief executive, William S Marth, said Aptuit's Glasgow-operation, based at the West of Scotland Science Park, would strengthen the buyer's expertise in sterile injectables.
He said: "Having a Glasgow base of operations provides us with an expanded footprint and customer base in Europe."
Last year Aptuit Glasgow received a £660,000 investment in new equipment, which was scheduled for installation this month.
Aptuit's two other Scottish plants, at Livingston and west Edinburgh, were closed four years ago due to the economic downturn.