Sweden: Global CDMO Service Recipharm Announced Strategic Acquisitions
Recipharm, global provider of contract development and manufacturing (CDMO) businesses announced that it has signed two separate agreements to acquire Kemwell’s pharmaceutical.
Jordbro/Sweden – The first acquisition agreed on with Kemwell comprises US and Swedish operations and is expected to close during the second quarter 2016, after review by the Swedish Competition Authority. The second agreement comprises operations in India and is conditional on governmental approvals and expected to close before year end.
Thomas Eldered, CEO of Recipharm AB said “These transactions represent a significant step in both the consolidation of the CDMO industry and the transformation of our company into a global leader”.
Anurag Bagaria, Managing Director of Kemwell commented: “I am delighted about the combination of Kemwell’s pharmaceutical business with Recipharm, both of which have many complementary capabilities. I am confident that together we will be even more successful and we look forward to building on our combined strengths”.