Sigma-Aldrich buys Iropharm of Ireland

USA-based Sigma-Aldrich says that it has acquired Honeywell International's Iropharm unit, a custom chemical synthesis business located in Arklow, Ireland. The addition of Iropharm will substantially increase the firm's active pharmaceutical ingredient and pharmaceutical intermediates manufacturing capacities, enabling the company to better support drug development from early-stage through commercialization.

With annual revenues of roughly $16.0 million, the mid-year addition will not have a material impact on the company's sales. The acquisition is expected to help it meet its growth goals over the next several years and to be neutral to mildly accretive to earnings in 2006, with no initial charges. All current employees in good standing, including all of Iropharm's existing management team, will remain. Terms of the proposed purchase, which were not disclosed, were paid in cash.