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AAI Pharma pharmaceutical development division aquired

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There are some changes today for the Wilmington branch of AAI Pharma. The company's pharmaceutical development division has been acquired by a private equity firm called, Water Street Healthcare Partners. The company's goal is to eventually become the leading provider of pharmaceutical development services. Water Street eyed AAI Pharma because of it's growth potential. An AAI Pharma spokesperson said it will essentially be business as usual for the approximately 400 people who work at the Wilmington location. The pharmaceutical division also operates out of Charleston and Chapel Hill.

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