Contract development and manufacturing organisation (CDMO), Recipharm, has acquired Sanofi’s manufacturing centre and business located in Holmes Chapel, which will provide the company with a platform to take advantage of the growing respiratory drug market.
Acquisition
“Holmes Chapel brings Recipharm an ideal opportunity to accelerate its offering to customers with access to novel of respiratory products,” commented Thomas Eldered, CEO of Recipharm. “As an already successful CMO with several clients, we look forward to introducing new contracts to Holmes Chapel by utilising our growing franchise in development services. Treatments for asthma and chronic obstructive pulmonary disease (COPD) are growing at a fast rate and we see many opportunities. The experienced management team and staff have already successfully attracted new customers and we look forward to building on this from the well invested facility.”
Through this acquisition, Recipharmwill have access to new customers and higher margin specialised technologies. It will acquire the assets and business for a consideration of £45 million. Supplementary considerations may be made in 2020 and 2021, subject to superior development of the business.
The transaction is expected to be accretive to EBITDA-margin and EPS from the first quarter of 2019.