Recipharm AB announces that it has now concluded the acquisition of Kemwell’s pharmaceutical businesses located in Bengaluru, India.
The expands position in emerging markets significantly, taking sales in these markets to more than SEK 800 million, dominated by sales directly to the fast-growing pharma market in India. The acquisition further strengthens Recipharm’s synergistic business model by aligning Indian development and technology operations with the combined Company’s manufacturing capabilities in India and Europe. In addition, there are potential commercial synergies from enhanced customer offering and cross selling.
Thomas Eldered, CEO of Recipharm AB said “I am pleased we have now finally completed this important acquisition. We are now in a position to offer our customers access to cost effective development and manufacturing capabilities able to serve international markets including the US. These acquisitions are already showing great promise and I am pleased the current Managing Director, Anurag Bagaria, and VP Corporate Development, Karan Bagaria, will continue in their current positions going forward.”
Information on the acquired businesses
The acquired business now known as Recipharm Pharmaservices Private Ltd, was originally founded by Subhash Bagaria. It employs around 1 200 people and comprises both development services as well as commercial manufacturing of solid, semi-solid, liquid and topical products, with customer relations spanning decades. The solid dosage plant was commissioned in 2008 and has approvals from US FDA and EU amongst many other regulatory bodies. The oral liquids production plant was commissioned in 2011 and is specialized in automated high throughput large volume manufacturing, mainly for the Indian subcontinent. The development business is a rapidly growing business with a comprehensive service offering including formulation development, small scale manufacturing for clinical trials and a large analytical services business.