Recipharm, a Swedish pharmaceutical contract development and manufacturing organization (CDMO), has acquired Lisbon, Portugal-based CDMO Lusomedicamenta Sociedade Técnica Farmacêutica.
The transaction values Lusomedicamenta at an enterprise value of $140.1 million.
Limited customer overlap and significant export activities from Lusomedicamenta will give Recipharm access to new markets and customers.
Lusomedicamenta will contribute to Recipharm’s Intellectual Property (IP)-backed manufacturing business as 30% of sales relate to IP rights, mainly in the Portuguese market.
The existing management and most of the former owners will continue for the foreseeable future in the company.
António Barros Ferreira of Lusomedicamenta 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 to grow with Recipharm.”