Recipharm AB (publ) today announces the divestment of the Medicamenta
business
unit, conducted within the subsidiary Lusomedicamenta – Sociedade
Técnica
Farmacêutica, S.A., to Laboratório Medinfar - Produtos Farmacêuticos.
In a
separate transaction, 100 per cent of the shares in the subsidiary DAVI
II
Farmacêutica, S.A. (“DAVI”) has been divested to PIHEX -
INVESTIMENTOS
IMOBILIÁRIOS, LDA. Recipharm’s Contract Manufacturing activities
in Portugal
will remain unchanged.
The Medicamenta business unit focuses on
cardiovascular disease, respiratory
diseases and metabolic diseases with annual
net sales of approximately EUR 14
million. The purchase price for the
acquisition of the Medicamenta business unit
amounts to approximately EUR 26
million.
DAVI, which specialises in ophthalmic products, focuses on import
and
distribution of pharmaceutical and cosmetic and similar products, and
import and
distribution of hospital, clinical and laboratory related materials
and
equipment. DAVI has annual net sales of approximately EUR 2.9 million.
The
purchase price for the acquisition of DAVI amounts to approximately EUR
5
million.
The divestment of the shares in DAVI took place upon signing of the
sale and
purchase agreement. The divestment of the Medicamenta business unit is
expected
to be completed before year end after obtaining, among other
requirements,
necessary regulatory approvals.
Thomas Eldered, CEO of
Recipharm:
“The divestments will help strengthen our financial position and we
see them as
a positive step in streamlining our operations and consolidating
our position as
a top five global Contract Development and Manufacturing
Organisation. I am
pleased that these two businesses will get committed owners
with the capacity
and capability to develop them to their full potential. We
will continue to
develop and invest in our highly successful Portuguese
contract manufacturing
business.”
For more information please visit
www.recipharm.com or contact:
Thomas Eldered, CEO, telephone: +46 8 602 52
10
Tobias Hägglöv, CFO, telephone: +46 8 602 45 00
This information is
information that Recipharm AB (publ) is obliged to make
public pursuant to the
EU Market Abuse Regulation. The information was submitted
for publication,
through the agency of the contact persons set out above at
16:50 CEST on 30
September 2020.
About Recipharm
Recipharm is a leading Contract Development
and Manufacturing Organisation
(CDMO) in the pharmaceutical industry employing
almost 9,000 employees.
Recipharm offers manufacturing services of
pharmaceuticals in various dosage
forms, production of clinical trial material
and APIs, pharmaceutical product
development and development and manufacturing
of medical devices. Recipharm
manufactures several hundred different products
to customers ranging from big
pharma to smaller research and development
companies. Recipharm’s annual
turnover is approximately SEK 11 billion. The
company operates development and
manufacturing facilities in France, Germany,
India, Israel, Italy, Portugal,
Spain, Sweden, the UK and the US and is
headquartered in Stockholm, Sweden. The
Recipharm B-share (RECI B) is listed on
Nasdaq Stockholm.
For more information on Recipharm and our services, please
visit
www.recipharm.com
Recipharm AB (publ)
Corporate identity number
556498-8425
Address Box 603, SE-101 32 Stockholm, Sweden, Telephone +46 8 602
52 00
www.recipharm.com