Shares of Croda International Plc (LON: CRDA) hit new all-time highs last week after the company announced that it had completed the acquisition of Avanti Polar Lipids, Inc., after receiving final approvals from US regulators.
Croda, which manufactures and sells speciality chemicals across the globe acquired Avanti, which specialises in drug delivery systems for the pharmaceutical industry and serves many of the leading pharmaceutical companies.
The acquisition will bolster Croda’s Life Sciences division, which will make it a major player in the delivery systems for complex therapeutic drugs and in next-generation mRNA vaccines.
There is a huge demand for such services given that most major pharmaceutical companies are working on a COVID-19 vaccine.
Croda International share price
Croda International shares were up 1.14% today to trade at 6024p having hit an all-time high of 6072p on Friday.