Clinigen Group plc, the global pharmaceutical and services company, has agreed to acquire CSM Parent, Inc., a specialist provider of packaging, labelling, warehousing and distribution services, from Great Point Partners, private equity company. Under the terms of the sale and purchase agreement, Clinigen has agreed to acquire CSM for an initial consideration of $150.0 million (subject to working capital adjustments) on a cash free and debt free basis. Additional contingent consideration of up to $90m in cash may become payable in the event that CSM achieves growth over a predetermined level of EBITDA in the year to 31 December 2019. The acquisition is unconditional and is expected to complete shortly after the net proceeds of the Placing have been received by Clinigen. The acquisition is in line with Clinigen's strategy to expand its global supply and distribution network in strategically important regions, to support all parts of the business. In the first full year following completion, the acquisition is expected to be accretive and operationally and it will significantly strengthen Clinigen's competitive positioning.