Recipharm divests own products business to Meda AB
Recipharm is pleased to announce that Meda AB has signed an agreement to acquire Recip AB - the own products business of Recipharm.
According to the agreement, Meda will take over the existing Recip AB sales and marketing organisation. Approximately 50 employees will transfer and Recipharm will continue to supply the Recip products to Meda under a contract manufacturing agreement.
Thomas Eldered, President of Recipharm commented “We are very pleased to have Meda as an industrial acquirer of Recip and we are looking forward to a continued and fruitful partnership with them. Recipharm will now focus on becoming a leading contract development and manufacturing organization (CDMO) and this divestment places us in an excellent financial position to achieve this. With this solid platform we will be able to speed up our efforts to becoming the best in class provider of pharmaceutical development and manufacturing services”.