Recipharm acquisition of Consort Medical : Swedish pharma group Recipharm has agreed to acquire Consort Medical, a British contract development and manufacturing organization (CDMO) for £505 million, as per the latest pharma acquisition news.
The transaction is said to help Recipharm become a major inhalation company and places it among the top five CDMO players in the world.
Consort Medical is a single source pharma services drug and delivery device company, incorporated in England and Wales. The company’s Bespak unit manufactures drug delivery devices for pharma partner companies engaged in developing nasal, respiratory, injectables, and ocular products, and the manufacture of devices targeting the point of care diagnostics market.
Consort Medical’s Aesica unit provides finished dose and API development and manufacturing services to pharmaceutical customers.
Jonathan Glenn – CEO of Consort Medical, commenting on Recipharm acquisition of Consort Medical, said: “Consort’s strategy has been to focus on expanding its businesses into new markets and geographic territories, and on developing our combined drug/device offering, Recipharm’s capabilities and footprint in drug manufacture will enhance both our Bespak and Aesica businesses.
“We believe that customers of both businesses will value the offering and enhanced scale of the combined business.”
Recipharm is a CDMO that provides manufacturing services for pharmaceuticals in various dosage forms, clinical trial material and active pharmaceutical ingredient (API), and pharmaceutical product development.
The Swedish pharma group manufactures several hundred different products to customers ranging from big pharma companies to smaller research and development firms.
Commenting on Recipharm acquisition of Consort Medical, Thomas Eldered – CEO of Recipharm said: “I am excited at the prospect of combining Recipharm with Consort which is extremely complementary. In our view Bespak is already acknowledged as a leading drug device developer and manufacturer and is a perfect fit for Recipharm’s broader pharmaceutical capabilities.
“The enlarged group will be able to provide finished dose forms in Bespak’s key technologies, and provide customers with a far more integrated approach. The Aesica business will further expand our capabilities and capacities in both API and finished dose manufacturing whilst providing access to a new customer base.”
Recipharm acquisition of Consort Medical is expected to be wrapped up in the first quarter of 2020.