Also acquires facility in France, adding new niche capabilities
Sweden-based CDMO Recipharm has signed a long term supply agreement with Alcon, a Novartis company, whereby Recipharm will manufacture a range of ophthalmic products using blow-fill-seal technology.
The two companies had previously announced a strategic collaboration, as part of which Recipharm will also acquire Kaysersberg Pharmaceuticals from Alcon for €18m. Kaysersberg's main asset is a manufacturing facility located in Kaysersberg, France, which currently supplies this product range.
The acquisition will ass blow-fill-seal technology to Recipharm's range of manufacturing services and provides potential synergy with the company's three other French facilities. Kaysersberg currently emplys approximately 260 people and they will continue their employment under Recipharm ownership.
The deal is expected to close on 31 December 2015, and will boost Recipharm's annual sales by more than €36m, as well as adding a new important relationship with Alcon and further strengthening the current relationship with Novartis.
'We are looking forward to extending our relationship with Alcon and Novartis,' said Recipharm CEO Thomas Eldered. 'Blow Fill Seal technology is a very interesting area which we believe will grow and it therefore forms an important addition to our portfolio. The high skill levels and dedicated employees in Kaysersberg will be a welcome addition into Recipharm and we look forward to working with them to further develop and grow the business.'