Recipharm resolves to issue shares with payment in kind to complete the acquisition of Nitin Lifesciences Limited
The Board of Directors of Recipharm AB (publ) ("Recipharm" or the “Company") has today resolved to issue 558,261 series B shares in the Company. The shares have been subscribed for by the Sobti family and payment for the subscribed shares consists of shares in Nitin Lifesciences Limited, as described in Recipharm's press release dated 2 January 2018 in connection with the announcement of the acquisition. In addition, the Sobti family have agreed not to sell any shares in Recipharm for a lock-up period of 12 months. The purchase price for the acquired shares, which corresponds to approximately 6% of the total number of shares in Nitin Lifesciences Limited, amounts to INR 600 million (approximately SEK 76.5 million1). Following completion of this acquisition, Recipharm is the holder of all shares in Nitin Lifesciences Limited.
 Exchange rate 1 INR = 0.12754 SEK
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing around 5,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, and pharmaceutical product development. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm’s turnover is approximately SEK 5.3 billion and 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