Swedish CDMO Recipharm has announced that it will acquire Kemwell’s CDMO business, including North Carolina-based Cirrus Pharmaceuticals. Kemwell acquired Cirrus Pharmaceuticals, which offers OINDP development and manufacturing services, in 2013.
Recipharm says that it will pay about $85 million for Kemwell’s Swedish and US operations and expects to close the acquisition of those businesses by the middle of 2016. The price for Kemwell’s Indian operations totals $120 million, and that acquisition is expected to be completed by the end of the year. Kemwell will retain its biopharma business in India.
Recipharm CEO Thomas Eldered commented, “These transactions represent a significant step in both the consolidation of the CDMO industry and the transformation of Recipharm into a global leader. We now have a US footprint which we can use to further penetrate the world’s largest pharmaceutical market and the business in Sweden provides us with several opportunities for synergies. When we receive the approval in India, Recipharm’s customers will have access to very cost effective development and manufacturing capabilities able to serve international markets including the US. I am extremely excited about these acquisitions and the benefits they will bring.”
Read the Recipharm press release.
