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ComGenex contributes $500,000 to AMRI Q1 revenue

US-based Albany Molecular Research Inc (AMRI), a chemistry-based drug discovery, development and manufacturing company, announced on Wednesday that Hungary's ComGenex, which it recently purchased, contributed $500,000 to its first-quarter contract revenue from Discovery Services.

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.
Comgenex had revenue of $8.5 million in 2005 and is targeting an at least 10% rise this year. AMRI had total revenue of $36.2 million in Q1 2006, including $8.4 million contract revenue from Discovery Services.