Recipharm, a Swedish pharmaceutical contract development and manufacturing firm, has concluded its acquisition of Sanofi’s inhalation contract manufacturing business as part of its growth strategy.
The £45m deal was first announced in June this year, and covers assets situated in Holmes Chapel, UK. This facility is one of the leading sites of its kind in Europe and relies on the work of more than 450 specialists.
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In addition to the £45m deal consideration, Recipharm may make select performance payments of up to £9m in 2020 and 2021, subject to superior development of the business.
The transaction is intended to boost Recipharm’s footprint in the respiratory drug market, while improving access to new customers and specialised inhalation technologies.
The Swedish drug manufacturer expects the new business to add inhalation commercial drug product manufacturing capabilities that will complement the existing services at its inhalation development facility in the US.
Recipharm CEO Thomas Eldered said: “Treatments for asthma and chronic obstructive pulmonary disease (COPD) are in high demand and are therefore key growth areas for our business.
“This new capability allows us to expand our offering to customers developing novel respiratory products by adding additional expertise and manufacturing capacity to Recipharm. We look forward to growing this side of our business and continuing to enhance our wider development services offering.”
The facility is equipped with development and manufacturing capabilities for respiratory products. It is set to support Recipharm’s inhalation development expertise at Research Triangle Park, North Carolina, US.
With more than 450 employees, the facility primarily manufactures metered dose inhalers and nasal sprays. The facility also consists of multiple development suites for other inhalation technologies.
