October 1, 2010 -- Recipharm AB (Stockholm) announces today that they have acquired Abbott’s (formerly Solvay Pharmaceuticals) manufacturing site in Parets, close to Barcelona, Spain for an undisclosed sum.
Parets produces solid dose, sterile ointments, oral liquids, aerosols and topical products. The site, which has benefited from high levels of investment in recent years, is well suited to the flexible requirements of a contract manufacturing operation, already servicing a number of companies. The newly acquired business will be called Recipharm Parets SL.
This move further enhances Recipharm’s capabilities, providing a base in the strategically important Spanish market, whilst bringing new customer relationships into the Recipharm Group. It also reinforces Recipharm’s strategic goal to become one of the world’s leading Contract Development and Manufacturing Organisations (CDMO), offering a ‘one-stop shop’ for the development and manufacturing of both small and large molecule biopharmaceuticals.
Recipharm will continue to produce all Abbott products currently manufactured at the site. Recipharm also intends to retain all existing employees.
Thomas Eldered, CEO of Recipharm, said: “We are extremely pleased to be entering into another transaction with Abbott and to be building on the successful integration of the Fontaine les Dijon facility which we acquired last year from former Solvay Pharmaceuticals. Both the facilities and staff are first class and we look forward to nurturing and developing current and new business in the important Spanish market”.
About Recipharm
Recipharm AB is a leading contract development and manufacturing organisation (CDMO) based in Sweden employing some 1950 employees. The Company operates several development and manufacturing facilities in Sweden, France, the UK and Germany and is headquartered near Stockholm. Recipharm supplies the global pharmaceuticals market with in excess of six hundred different products in multiple dosage forms that include solid dose, granulates and powders, sterile liquids and lyophilisates, semi solids, beta-lactams, hormones, and dry powder inhalers. It also has biologics development capabilities.
Website: www.recipharm.com.
Mark Quick Tel: +44 1925 714263 VP Corporate Development Recipharm AB
Tristan Jervis or Alex Heeley De Facto Communications Tel: +44 (0) 207 861 3019 / 3043 E-mail Tristan Jervis or Alex Heeley t.jervis@defacto.com or a.heeley@defacto.com
