PCI Pharma Services, the Northeast Philadelphia-based contract development and manufacturing company has received a multibillion-dollar investment that now values the company at $10 billion, writes Ryan Sharrow for the Philadelphia Business Journal.
The new investment was co-led by two private equity firms: Bain Capital and Kohlberg.
The latter has previously invested in PCI Pharma, while the former is a new investor of the organization.
Back in 2020, Kohlberg partnered with Mubadala Investment, an Abu Dhabi state-owned firm, to acquire a majority stake in the company.
PCI Pharma is known for working with biopharmaceutical firms to launch new drugs, help with health care packaging, and handling clinical trial materials.
Over the last half-decade, the company has helped with 450 product launches.
According to The Wall Street Journal, PCI supports 25 percent of the top 200 drugs for oncology and central-nervous-system disorders. In addition, the local company is also supporting more than 2,300 drugs in development.
With its latest investment, PCI plans to expand its services and geographic reach, writes Miriam Gottfried for the publication.
Currently, PCI has 38 sites across seven countries nationwide, and more than 7,500 employees in total.
Read more about PCI Pharma’s new investment and what they will mean for the company at the Philadelphia Business Journal and The Wall Street Journal.
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