STOCKHOLM, Sweden—Recipharm AB has acquired Abbott's (formerly Solvay Pharmaceuticals) manufacturing site in Parets, Spain, near Barcelona, for an undisclosed sum.
Parets produces solid-dose, sterile ointments, oral liquids, aerosols and topical products. The site, which reportedly 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, according to officials at Recipharm. The newly acquired business will be called Recipharm Parets SL.
This move further enhances Recipharm's capabilities and provides a base in the Spanish market, which Recipharm CEO Thomas Eldered says is "strategically important," while also 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 organizations (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.
"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," Eldered say. "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."
Recipharm AB is a Swedish CDMO employing some 1,950 employees. The company operates several development and manufacturing facilities in Sweden, France, the United Kingdom and Germany and is headquartered near Stockholm. Recipharm supplies the global pharmaceuticals market with more than 600 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.
Parets produces solid-dose, sterile ointments, oral liquids, aerosols and topical products. The site, which reportedly 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, according to officials at Recipharm. The newly acquired business will be called Recipharm Parets SL.
This move further enhances Recipharm's capabilities and provides a base in the Spanish market, which Recipharm CEO Thomas Eldered says is "strategically important," while also 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 organizations (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.
"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," Eldered say. "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."
Recipharm AB is a Swedish CDMO employing some 1,950 employees. The company operates several development and manufacturing facilities in Sweden, France, the United Kingdom and Germany and is headquartered near Stockholm. Recipharm supplies the global pharmaceuticals market with more than 600 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.
