Recipharm divests five Swedish plants
Av The transaction also includes Recipharm’s manufacturing facilities in Pessac, France, and Parets, Spain, according to a press release.
Blue Wolf will consolidate the seven plants into a newly formed CDMO company, whose name has not yet been disclosed.
The relevant plants focus on developing oral solid, semi-solid and liquid dosage products and have over 120 customers globally, according to Recipharm. The new organisation will be headed by Peter Kruger, who has been Group Managing Director at Recipharm in recent years.
The Swedish facilities included in the transaction employ approximately 600 people.
The financial details of the transaction have not been disclosed and the deal is subject to regulatory approvals and is expected to be finalised in the fourth quarter of this year.
“I wish all colleagues at these seven facilities the best of luck in the future,” Recipharm CEO Greg Behar said in a statement.
On Tuesday, Recipharm also announced the completion of a spin-out of its three-facility inhalation operations under the name Bespak.
According to Fierce Pharma, Recipharm has previously expressed interest in expanding its biological production capacity and positioning itself to capitalise on the growing demand for cell and gene therapies.
The company was founded in 1995 by entrepreneurs Thomas Eldered and Lars Backsell, who took over a failing tablet factory from Pharmacia. Since then, the company has grown rapidly, as previously reported by Life Science Sweden.
In March 2021, the company was delisted from the Stockholm Stock Exchange and is now owned by private equity company EQT IX. The company employs over 7,000 people and operates in Europe, India, Israel and North America.
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