Recipharm has acquired Lisbon-based Contract Development and Manufacturing Organisation (CDMO) Lusomedicameta Sociedade Técnica Farmacêutica. The combined entity will enhance Recipharm’s scale and profitability.
Limited customer overlap and significant export activities from Lusomedicamenta, will give Recipharm access to new markets and customers. Lusomedicamenta has an attractive and competitive cost structure, whilst located in the EU, and manufacturing operations well in line with international regulatory requirements. Lusomedicamenta will contribute to Recipharm’s Intellectual Property (IP) backed manufacturing business as 30 per cent of sales relate to IP rights including own marketing authorisations, mainly in the Portuguese market. The deal is already accretive to Recipharm’s profitability and EPS from Q1 2015.
Commenting on the acquisition, Thomas Eldered, Chief Executive Officer, Recipharm said, “The acquisition of Lusomedicamenta represents an excellent addition to the Recipharm Group and is perfectly in line with our strategic plan to access new markets, establish new customer relationships and consolidate the industry to become a major CDMO. The new customer base combined with significant IP backed sales in Portugal provides us with many new exciting opportunities. I am particularly pleased that we have been able to reach agreement with the former owners of Lusomedicamenta who were working in the company to stay and take the company on to the next level together with us.”
EP News Bureau – Mumbai