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Tuesday, July 27, 2010

Colorcon quietly completes 2nd overseas acquisition of 2010

While many keep waiting for a frothy mergers-and-acquisition market to return, it’s easy to overlook that deals are getting done.

Sometimes they’re initiated by quiet companies that don’t like to reveal too much information about themselves.

One such company is Colorcon Inc., of Harleysville, which said Monday it acquired Pharmaceutical Coatings Pvt. Ltd. in India. No terms of transaction were disclosed, and a couple phone calls to a Colorcon spokeswoman were not returned.

Colorcon, founded in 1961, has been owned by the private investment management firm Berwind Corp. since 1978. According to Berwind’s website, Colorcon’s primary market is the pharmaceutical industry for which it makes products that allow for the controlled or extended release of a medicine’s active ingredient, or that apply a film coating to tablets.

In a statement about its India acquisition, Colorcon president Jean-Claude Deneuville said the usual things about broadening and strengthening the company’s abilities for customers in the Asia/Pacific region.

But Colorcon, which employs more than 1,100 people worldwide, did not remind anyone that this was its second acquisition in 13 weeks. In April, Colorcon bought NP Pharm and its production facility in Bazainville, France, from Ethypharm S.A., which is based in France and has U.S. offices in Center City. (No terms released on that purchase either.)

While Colorcon may be the type of company only a chemist could love, its recent maneuvers indicate what some laconic, patient investors are doing as more omnipresent forecasters argue over the direction of the economy.

Running numbers

If you like wading through earnings reports, this could be your favorite week of the summer.

Forty-nine of the 187 members of the Inquirer Bloomberg Philadelphia Index are scheduled to report their financial results this week, including some of the region’s best-known companies such as Comcast Corp. (Wednesday) and Sunoco Inc. (Thursday).

So if you’re finding that beach book you picked up at the drugstore a little too lightweight, there will be plenty of P&Ls, balance sheets, and cash-flow statements to reengage your attention span. Here’s a list of companies and when they report:

Tuesday: AmerisourceBergen, Ametek, Cephalon, Delphi Financial Group, DuPont, Entercom Communications, Lockheed Martin, Penn Virginia Resource Partners, SAP, Sunoco Logistics Partners, Teva Pharmaceutical Industries, Unisys;

Wednesday: Amerigas Partners, Brandywine Realty Trust, CardioNet, Comcast, Destination Maternity, FMC, GSI Commerce, Innovative Solutions & Support, Lincoln National, Quaker Chemical, Triumph Group, UGI, Univest Corp. of Pennsylvania, ViroPharma;

Thursday: Carpenter Technology, CDI, Checkpoint Systems, Internet Capital Group, National Penn Bancshares, NutriSystem, PMA Capital, Safeguard Scientifics, Sunoco, TF Financial, WPCS International;

Friday: Adolor, Alliance Bancorp Inc. of Pennsylvania, Dorman Products, Endo Pharmaceuticals Holdings, Merck & Co., Public Service Enterprise Group.
 
Posted by Mike Armstrong @ 10:12 AM  Permalink | File Under: Pharma, Biotech | Post a comment
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About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor. Contact Mike via e-mail or at 215-854-2980
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