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You are here: Home / News / Owner of Charles City drug company sold

Owner of Charles City drug company sold

August 8, 2019 By Radio Iowa Contributor

One of the nation’s leading drug molecule companies with a facility in northeast Iowa is being bought by an international investment firm.

Cambrex Corporation announced Wednesday it’s signed an agreement worth two-point-four billion dollars with a Permira, a private equity firm with offices in London, Tokyo, Hong Kong and New York. Cambrex owns a 45-acre site in Charles City employing 400 people and completed a $24 million expansion in April.

The sale is expected to be completed in the fourth quarter of this year.

(By Kellan Heavican, KCHA, Charles City)

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