US-based drug distributor AmerisourceBergen has signed an agreement to sell its contract packaging business AndersonBrecon to an investor group headed by Frazier Healthcare Ventures for $308m.
According to AmerisourceBergen, the investor group includes affiliates of Greenspring Associates, QIC Global Private Equity and Thomas McNerney & Partners.
AmerisourceBergen president and chief executive officer Steven Collis said, "This transaction will help ensure that AndersonBrecon will continue to thrive in the years ahead, and allows AmerisourceBergen to focus on its distribution, specialty and manufacturer services businesses."
Frazier Healthcare will combine the packaging unit with its US commercial contract pharmaceutical packaging operation, which it acquired in 2012 from Catalent Pharma Solutions and operates as Packaging Coordinators.
Expected to close in the third quarter of fiscal 2013, the transaction is subject to customary closing conditions, including receipt of certain regulatory reviews.
The combined companies represent an opportunity to offer healthcare services to pharmaceutical and biotechnology companies globally.
