Recipharm has acquired Lisbon-based CDMO Lusomedicameta Sociedade Técnica Farmacêutica S.A.
According to Recipharm, Lusomedicamenta has an attractive and competitive cost structure, whilst located in the EU, and manufacturing operations well in line with international regulatory requirements.
Lusomedicamenta will contribute to Recipharm’s Intellectual Property (IP) backed manufacturing business as 30% of sales relate to IP rights including own marketing authorisations, mainly in the Portuguese market.
In a statement, Rechipharm added: "existing management and most of the former owners will continue for the foreseeable future in the company".
Thomas Eldered, CEO of Recipharm said: ”The acquisition of Lusomedicamenta represents an excellent addition to the Recipharm Group and is perfectly in line with our strategic plan to access new markets, establish new customer relationships and consolidate the industry to become a major CDMO. The new customer base combined with significant IP backed sales in Portugal provides us with many new exciting opportunities. I am particularly pleased that we have been able to reach agreement with the former owners of Lusomedicamenta who were working in the company to stay and take the company on to the next level together with us."
António Barros Ferreira, speaking on behalf of the sellers, said: “Since we took ownership of Lusomedicamenta in 2004 as a spinoff of a Janssen-Cilag facility, we have been very successful in creating and growing the business particularly in Portugal. We now have a strong export market and emerging business in Africa which we believe we will be able grow with Recipharm. I am very pleased that we are now becoming part of the Recipharm Group which will enable us to compete on a wider scale and provide many benefits to our customers."