02.24.16
Recipharm has entered into an agreement to acquire Italian contract development and manufacturing organization (CDMO) Mitim for €68 million, adding scale and capabilities to the group. Mitim is currently owned by a private Italian family and is specialized in the filling of injectable beta lactam products. It is located in Brescia close to Recipharm’s existing operations in Northern Italy.
“This acquisition is very exciting for Recipharm and represents an important step in our consolidation of the CDMO industry,” said Thomas Eldered, chief executive officer, Recipharm. “The transaction also cements our leading position in beta lactam production and provides Recipharm not only with additional scale but also opportunities to realize commercial and operational synergies as we combine it with our existing Italian business.”
Mitim’s product portfolio includes beta lactams in dry sterile powder for injectable solutions, tablets and oral suspensions. Other products include injectable sterile solutions, oral solids and liquids as well as semi-solids. The manufacturing site has five production lines and the company completed a significant investment in a new state-of-the-art production line for injectable beta lactams in March 2015. Mitim employs approximately 250 people.
“This acquisition is very exciting for Recipharm and represents an important step in our consolidation of the CDMO industry,” said Thomas Eldered, chief executive officer, Recipharm. “The transaction also cements our leading position in beta lactam production and provides Recipharm not only with additional scale but also opportunities to realize commercial and operational synergies as we combine it with our existing Italian business.”
Mitim’s product portfolio includes beta lactams in dry sterile powder for injectable solutions, tablets and oral suspensions. Other products include injectable sterile solutions, oral solids and liquids as well as semi-solids. The manufacturing site has five production lines and the company completed a significant investment in a new state-of-the-art production line for injectable beta lactams in March 2015. Mitim employs approximately 250 people.
