Recipharm divests Portuguese distribution business and ophthalmology company for approximately EUR 31 million
Recipharm AB (publ) today announces the divestment of the Medicamenta business unit, conducted within the subsidiary Lusomedicamenta – Sociedade Técnica Farmacêutica, S.A., to Laboratório Medinfar - Produtos Farmacêuticos. In a separate transaction, 100 per cent of the shares in the subsidiary DAVI II Farmacêutica, S.A. (“DAVI”) has been divested to PIHEX - INVESTIMENTOS IMOBILIÁRIOS, LDA. Recipharm’s Contract Manufacturing activities in Portugal will remain unchanged.
The Medicamenta business unit focuses on cardiovascular disease, respiratory diseases and metabolic diseases with annual net sales of approximately EUR 14 million. The purchase price for the acquisition of the Medicamenta business unit amounts to approximately EUR 26 million.
DAVI, which specialises in ophthalmic products, focuses on import and distribution of pharmaceutical and cosmetic and similar products, and import and distribution of hospital, clinical and laboratory related materials and equipment. DAVI has annual net sales of approximately EUR 2.9 million. The purchase price for the acquisition of DAVI amounts to approximately EUR 5 million.
The divestment of the shares in DAVI took place upon signing of the sale and purchase agreement. The divestment of the Medicamenta business unit is expected to be completed before year end after obtaining, among other requirements, necessary regulatory approvals.
Thomas Eldered, CEO of Recipharm:
“The divestments will help strengthen our financial position and we see them as a positive step in streamlining our operations and consolidating our position as a top five global Contract Development and Manufacturing Organisation. I am pleased that these two businesses will get committed owners with the capacity and capability to develop them to their full potential. We will continue to develop and invest in our highly successful Portuguese contract manufacturing business.”
For more information please visit www.recipharm.com or contact:
Thomas Eldered, CEO, telephone: +46 8 602 52 10
Tobias Hägglöv, CFO, telephone: +46 8 602 45 00
This information is information that Recipharm AB (publ) 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 at 16:50 CEST on 30 September 2020.
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 9,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm’s annual turnover is approximately SEK 11 billion. 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. The Recipharm B-share (RECI B) is listed on Nasdaq Stockholm.
For more information on Recipharm and our services, please visit www.recipharm.com