AMRI signed the contract to buy ComGenex at the end of January 2006, and closed the transaction on March 1, paying $11 million for the company, according to industry insiders. In its first-quarter report, AMRI said ComGenex contributed $500,000 to its first-quarter contract revenue from discovery services. ComGenex had revenue of $8.5 million in 2005 and targeted an increase of at least 10% this year. AMRI had total revenue of $36.2 million in Q1 2006, including $8.4 million contract revenue from discovery services.
AMRI is a global drug discovery company that provides chemistry services to pharmaceutical and biotechnology companies and conducts its own proprietary R&D programs. Its shares are traded on the NASDAQ.
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