Quantum Pharma completes Lamda takeover

LONDON (ShareCast) - Pharmacy and hospital supplier Quantum Pharma (LSE: QP.L - news) has agreed a €9.7m (£7m) deal to acquire pharmaceutical development company Lamda. Under the agreement, the County-Durham based group will take control of 100% of the share capital of Lamda (UK) Ltd, Lamda Laboratories SA and Lamda Pharmaceuticals SA, which are collectively known as Lamda.

The group, which has operations in the UK, Scandinavia, Germany, Italy and Greece, provides outsourced research and development service to businesses aiming to secure a licence to commercialise medicinal products.

In a statement released on Friday, Quantum said the acquisition "significantly increased" its product development portfolio, in terms of number of products and therapeutic area.

"The acquisition of Lamda represents an important and exciting milestone for the group and a further deployment of the funds raised at the time of our admission to AIM in December 2014 in accordance with our stated strategy," said Quantum chief executive Andrew Scaife.

Quantum shares were up 1.74% to 117.00p at 10:59 on Friday.