Our company started its journey back in 1995 with the acquisition of a solid dose facility in Stockholm, including a portfolio of around 20 well known pharmaceutical products.
Lars Backsell and Thomas Eldered were both employees of the selling company. With Lars’ market and product development experience and Thomas’ in-depth knowledge of manufacturing and the facility, they complemented each other well from day one. Together they decided to realise the acquisition, creating what became ‘Recip’.
Shaping the strategies
It took a few years for Recip to form its current CDMO strategy. In 1995, the pharmaceutical industry was prospering from the many profitable products it had developed during the 1980s and cost saving measures, such as outsourcing, had not yet become a priority.
At an early stage, Recip identified a growing environmental awareness in the market. An extensive environmental policy gave the company a strong, competitive edge and also added important corporate values. This environmental profile remains an important part of Recipharm today and our customers appreciate the benefits of working with a CDMO that guarantees high standards of sustainability.
A CDMO is born
In 2001, the brand name Recipharm was established for the growing contract manufacturing part of Recip’s business. Six more facilities were acquired between 2001 and 2007 which added capacity, new advanced technologies, more diverse dosage forms and a growing network of customers.
In 2007, inline with the changing marketplace, Recip decided to dedicate itself fully to the outsourcing business. The rights to products were sold, but the valuable development expertise and experience gained during the company's journey remained in-house. Keeping only the CDMO brand “Recipharm” and acquiring a new development facility, our position as a pure CDMO was established.
A history of growth
Since then Recipharm has grown quickly and in order to continue our growth strategy, the business was listed on the Stockholm Stock Exchange in April 2014. During the same year, three new important acquisitions were made. Milano based Corvette Pharmaceutical Services Group was acquired from LBO Italia Investimenti, Portuguese CMDO Lusomedicamenta Sociedade Técnica Farmacêutica S.A was added to the Group and Recipharm acquired a Flamel Technologies development facility in Pessac, France.
2015 saw the acquisition of Uppsala based CRO OnTarget Chemistry, strengthening our development services offering. By the end of 2015 a facility from Alcon in France was acquired, adding the important blow-fill-seal technology to Recipharm's services offering. In October 2015 Recipharm also announced the intention of acquiring a majority stake in Indian CMO Nitin Lifesciences, creating a platform for emerging markets. The deal was finalised in April, the first quarter of 2016. In January 2018, Recipharm acquired the remaining shares in Nitin Lifesciences Limited.
In March 2016, Recipharm acquired the Italian based high quality CDMO Mitim to further develop its offering within beta lactams.
In April 2016, Recipharm announced the strategic acquisitions of Kemwell's CDMO businesses in the US, Sweden and in India creating a global CDMO leader. The acquisition of the US and Swedish operations was finalised end of May, and the acquisition of the Indian operations was finalised in February 2017.
In December 2017, Recipharm completed the acquisition of the Roche manufacturing facility in Leganés, Spain, signing a long-term agreement with a major new customer.
Today, Recipharm remain headquartered in Sweden and now have more than 20 manufacturing and development facilities around Europe, India and in North America. The company has been around for quite some time now and we are proud of what we have achieved over the last two decades. In the interests of all our stakeholders; long may this success continue.