Recipharm acquisition to make it a top 5 global CDMO?

CEO says the acquisition of Consort Medical will help to create a leading advanced delivery systems company.

As a result of the offer being declared wholly unconditional, Consort’s 2,000 employees and 10 facilities across the UK, Italy and Germany will become part of the Recipharm Group.

Commenting on the announcement, Thomas Eldered, CEO at Recipharm said: “We are excited to confirm the acquisition of Consort. There are many complementarities between our businesses and exciting times lie ahead as we work together to create a leading advanced delivery systems company and top 5 global CDMO.”

Consort is an integrated drug and delivery device company providing advanced delivery technologies, formulation and manufacturing services for drugs.

Recipharm will support Consort’s highly successful Bespak division as a standalone business, continuing to supply customers with competitive and innovative inhalation and other devices. The Aesica division will be integrated into Recipharm’s current CDMO business and thereby provide a further enhanced development and manufacturing service for both drug substance and drug product. Recipharm will further seek to combine its pharmaceutical development and manufacturing expertise with Consort’s innovative device offering to provide a comprehensive service for inhalation drug products.

Thomas Eldered continued: “The deal enhances our competitive position in the market, expanding the scale and breadth of our service offering so we can become a true end-to-end partner for our customers. In particular, the deal strengthens our inhalation drug product offering which is a key area of growth for our business following the creation of Recipharm Inhalation Solutions in 2019.”

A new Board of Consort has been appointed with Thomas Eldered as Chairman. Recipharm’s EVP Corporate Development, Mark Quick, in addition to his current position, has been appointed as the new CEO to lead the Consort business through the transition and integration process. He said: “I am proud to be taking on the position of CEO of Consort having spent many years within the Recipharm leadership team. On behalf of Recipharm, I would like to welcome all new employees to our family and look forward to a bright future for all as we work to integrate our businesses and deliver value to customers.”