Recipharm has acquired Lisbon-based CDMO Lusomedicameta Sociedade Técnica Farmacêutica S.A. in a transaction valued at €112.3 million. An additional €1.3 million will be paid in 2015 subject to Lusomedicamenta’s 2014 financial performance. The acquisition expands Recipharm’s scale and profitability with combined revenue of SEK 2.7 billion based on LTM September 2014.
 
Lusomedicamenta brings significant export activities, expanding Recipharm’s access to new markets and customers. The existing management and many of the former owners will maintain their positions for the foreseeable future. 
 
Thomas Eldered, chief executive officer of Recipharm, said, “The acquisition of Lusomedicamenta represents an excellent addition to the Recipharm Group and is perfectly in line with our strategic plan to access new markets, establish new customer relationships and consolidate the industry to become a major CDMO. The new customer base, combined with significant IP backed sales in Portugal, provides us with many new exciting opportunities.  I am particularly pleased that we have been able to reach agreement with the former owners of Lusomedicamenta who were working in the company to stay and take the company on to the next level together with us.”
 
António Barros Ferreira of Lusomedicamenta, said,
“Since we took ownership of Lusomedicamenta in 2004 as a spinoff of a Janssen-Cilag facility, we have been very successful in creating and growing the business, particularly in Portugal. We now have a strong export market and emerging business in Africa, which we believe we will grow with Recipharm. I am very pleased that we are now becoming part of the Recipharm Group, which will enable us to compete on a wider scale and provide many benefits to our customers.”