Recipharm AB (Stockholm) announced today an agreement whereby Recipharm will acquire Hospira subsidiary Wasserburger Arzneimittelwerk GmbH located in Wasserburg, Southern Germany, for an undisclosed sum. The completion of the sale is set to take place on 31st January 2010.
Wasserburger is a well established contract manufacturing organisation specialised in the aseptic filling and lyophilsation of pharmaceuticals into ampoules and vials on behalf of a wide variety of customers. Operating from a single facility it also boasts state of the art capabilities.
This move further enhances Recipharm’s capabilities enabling it to offer highly efficient large-scale lyophilisation services alongside its existing smaller scale operation located in Basle. It also brings a number of new relationships to Recipharm as well as improved access to the German market which is one of Europe’s largest.
The acquisition of Wasserburger forms an integral part of Recipharm’s strategic goal to become one of the world’s leading Contract Development and Manufacturing Organisations (CDMO) by offering a ‘one stop shop’ for the development and manufacturing of both traditional pharma and biopharmaceuticals.
Recipharm has confirmed it will continue to offer the full spectrum of Wasserburger’s current services and intends to retain all of the employees.
Thomas Eldered, CEO of Recipharm, said: “We are extremely happy to be acquiring such an excellent facility and skilled employees in the strategically important market of Germany. Combining this technology with our existing capabilities will I believe enable us to maximise our growth potential and put us in a very strong position for the future. We are also pleased to be extending our customer base and we look forward to being able to offer a wider range of capabilities to them”
"Divesting Wasserburg supports Hospira's Project Fuel optimization initiative and strategic efforts to drive efficiency across our global manufacturing footprint," said Terrence C. Kearney, chief operating officer, Hospira. "This agreement reduces manufacturing redundancies and complexity, while freeing up resources to invest in new manufacturing technology. Hospira's recent acquisition in Europe and planned purchase in India represent the types of manufacturing investments that will drive sustainable growth in our core specialty injectable pharmaceutical and related One 2 One contracting manufacturing business."
No financial details were disclosed.
About Hospira
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness™. As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has approximately 14,000 employees. Learn more at www.hospira.com.
About Recipharm
Recipharm AB is a leading contract development and manufacturing organisation (CDMO) based in Sweden employing some 1400 employees. The Company operates several development and manufacturing facilities in Sweden, France, the UK and Switzerland and is headquartered near Stockholm. Recipharm supplies the global pharmaceuticals market with in excess of six hundred different products in multiple dosage forms that include solid dose, granulates and powders, sterile liquids and lyophilisates , semi solids, beta-lactams, hormones, and dry powder inhalers. It also has biologics development capabilities and recently announced the proposed acquisition of Cobra Biologics Ltd based in the UK.
Website: www.recipharm.com.
For further information, please contact:
Recipharm Media Contacts
Mark Quick Tel: +44 1925 714263
VP Corporate Development
Recipharm AB
Tristan Jervis or Alex Heeley
De Facto Communications Tel: +44 (0) 207 861 3019 / 3043
E-mail Tristan Jervis or Alex Heeley
t.jervis@defacto.com or A.heeley@defacto.com
Hospira Media Contact
Tareta Adams Tel: +224-212-2535 (during U.S. business hours)
