SFBC Acquires Anapharm

Miami-based SFBC International, Inc., a contract research organization to the pharmaceutical and biotechnology industries, acquired Quebec City-based Anapharm Inc.’s shares for approximately $48 million on March 18, 2002. The acquisition makes SFBC the largest phase I/II contract research organization in North America. In return for 100 per cent of Anapharm’s issued and outstanding shares, SFBC paid approximately $50 million in a combination of cash and SFBC common stock. The selling shareholders included Sofinov Société Financière d’Innovation Inc. and Anapharm’s angel investors and founders.
In Canada SFBC was represented by Osler, Hoskin & Harcourt LLP in Montreal, with a team led by Shahir Guindi and including Frédéric Dionne, Jean-Sébastien Lamoureux and Andrew Scipio del Campo (corporate), Martine Trudeau (securities) and François Auger and Geneviève Lille (tax). Michael Harris and Bradley Eavenson of Harris & Gilbert in Florida acted as U.S. counsel to SFBC.
Anapharm and its selling shareholders were represented by Desjardins Ducharme Stein Monast, with a team led by Charles Gagnon and including Kathleen Sauvé and Odette St-Laurent. Sofinov was also represented by in-house counsel Julie Tremblay. PricewaterhouseCoopers Securities Inc. acted as financial advisors to the selling shareholders.