Recipharm Buys Alcon Manufacturing Facility
Recipharm AB, a contract development and manufacturing organization based in Jordbro, Sweden, has has entered into the previously announced strategic collaboration with Alcon, a Novartis company, and signed a long-term supply agreement whereby Recipharm will manufacture a range of ophthalmic products using blow fill seal technology. As part of this collaboration, Recipharm will also acquire from Alcon, Kaysersberg Pharmaceuticals, a company whose main asset is a manufacturing facility located in Kaysersberg, France which currently supplies this product range.
Recipharm is acquiring 100% of the shares in Kaysersberg Pharmaceuticals for a total consideration of EUR 18 million ($19.3 million). The consideration of EUR 18 million will be paid in cash with 75% in 2015 and 25% in January 2016. Approximately 260 people currently employed by Kaysersberg Pharmaceuticals will continue their employment under Recipharm ownership. The deal was scheduled to close December 31, 2015.