PCI Pharma Services Announces Agreement to Acquire Sherpa Clinical Packaging

Leading global biopharmaceutical outsourcing services provider PCI Pharma Services (PCI) is pleased to announce the acquisition of San Diego-based Sherpa Clinical Packaging (Sherpa), which expands PCI’s U.S. operations to the West Coast.

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Leading global biopharmaceutical
outsourcing services provider PCI Pharma Services (PCI) is pleased to announce the
acquisition of San Diego-based Sherpa Clinical Packaging (Sherpa), which expands
PCI’s U.S. operations to the West Coast. The acquisition of Sherpa, a provider of
clinical trial supply services, further strengthens PCI’s position as a leader in outsourced
clinical trial support services. The addition of Sherpa’s capabilities also enables PCI to
better support customers from early phases of clinical development through to
commercial launch.

Sherpa was founded in 2010 by Mark Paiz who identified the need for a clinical
packaging services provider for the biopharmaceutical hubs on the West Coast.
Sherpa’s core services include primary and secondary packaging and labeling for Phase
I-IV studies, distribution, storage and returns. Sherpa’s state-of-the art facilities employ
the latest cold chain technologies that include handling products requiring labeling and
kitting at frozen and refrigerated conditions.

Sherpa is recognized for offering reliable, high quality, fast, and flexible clinical supply
services for West Coast-based and global customers. Bill Mitchell, Executive Vice
Chairman of PCI stated, “Mark and the team at Sherpa have done an excellent job of
building a customer-centric organization with a strong service reputation. Their
dedication parallels our own commitment to provide the industry-leading customer
experience, which makes them a natural fit for PCI.”

Salim Haffar, PCI’s newly appointed CEO stated, “I am delighted to join PCI during this
period of rapid expansion and strategic investment which will allow PCI to better partner
with our biopharma customers. The acquisition of Sherpa is the next logical step in our
Clinical Services expansion strategy, further enhancing our development-stage
capabilities and geographic presence.”

Mark Paiz, Sherpa’s Founder and CEO, stated, “Sherpa’s success is due in large part to
our commitment to deliver customers the highest levels of service, quality and reliability.
I strongly believe PCI will continue to build on our success as well as enhance Sherpa
with its global network and market-leading reputation.”

PCI has been rapidly growing its capabilities and global presence to offer differentiated
solutions for its clients. PCI’s global molecule-to-market services span contract
development and manufacturing, including market-leading specialization in highly
complex and potent drugs, clinical supply services and commercial packaging services.
The company is strategically and actively investing in the expansion of its global Clinical
Services business and this marks its third acquisition in 12 months.

In 2017, PCI acquired EU-based packager Millmount Healthcare in Dublin, Ireland, in
order to expand its European footprint as well as to address customers’ Brexit concerns.
In February of this year, PCI established its presence in the Asia Pacific region with the
acquisition of Pharmaceutical Packaging Professionals (PPP), based in Melbourne,
Australia. In addition to providing regional capacity expansion and increased market
access, this acquisition added new early phase sterile and non-sterile drug
manufacturing capabilities.

Additionally, PCI announced significant site expansions at both its Bridgend, U.K., and
Rockford, IL, Clinical Services centers of excellence, including considerable investment
into its industry-leading cold chain infrastructure.

PCI employs more than 3,500 associates across 18 GMP facilities in 7 locations. The
addition of Sherpa will add two additional state-of-the-art San Diego-based facilities.
Headquartered in Philadelphia, PA, PCI is principally owned (on behalf of its clients) by
Partners Group, with partner investors Thomas H. Lee Partners and Frazier Healthcare
Partners.

Goodwin Procter LLP acted as legal counsel to PCI for this transaction. PCI engaged
global professional services firm Alvarez & Marsal to provide due diligence services.

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