The acquisition of Sanofi’s manufacturing centre and business located in Holmes Chapel provides Recipharm with a solid platform to take further advantage of the growing respiratory drug market. It also adds additional inhalation commercial drug product manufacturing capabilities, complementing services already offered by Recipharm’s inhalation development facility in the US.
Thomas Eldered, CEO of Recipharm, commented: “Holmes Chapel brings Recipharm an ideal opportunity to accelerate its offering to customers with access to novel of respiratory products. 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”.
About Sanofi Holmes Chapel
The Holmes Chapel manufacturing facility is located close to Manchester and is one of the leading sites of its type in Europe providing CMO manufacturing services. Several clients are serviced from the facility and a number of products, some of which that are still in their launch phase, are supplied. One such client is Vectura Group plc, for whom flutiform is manufactured. As part of the transaction Sanofi have also entered into a long-term supply agreement for the products currently manufactured at the facility.
The prime technologies of Holmes Chapel are metered dose inhalers and nasal sprays. The facility houses development areas for dry powder inhalation technologies.
The site covers 125,000 m2 and is home to a team of more than 450 specialist employees.
Additional financial information
Recipharm invites investors, analysts and media to a web conference (in English) on June 14 at 10:00 am CET, where CEO Thomas Eldered will comment on the acquisition as well as answer questions.
To participate in the web conference, use the below link:
Pin code for participants:
This information is information that Recipharm AB 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, on 13 June 2018, at 17:31 CET.
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing around 5,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, and pharmaceutical product development. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm’s turnover is approximately SEK 5.3 billion and 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. For more information, visit www.recipharm.com.
Recipharm has retained Crédit Agricole Corporate & Investment Bank, Hurst Corporate Finance, Rambaud - Le Goater and Turner Parkinson LLP as advisors for this transaction.
1/ Exchange rate SEK/GBP 11.71
2/ Proforma EBITDA LTM March 2018 adjusted for non-recurring items
3/ Company estimate, based on due diligence
SOURCE: Recipharm AB