Recipharm acquisition to make it a top 5 global CDMO?

6 Feb 2020

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

Recipharm has announced that its offer to buy Consort Medical has become unconditional in all respects and will remain open for acceptances for a further 14 days, until 18 February 2020.

Recipharm acquisition to make it a top 5 global CDMO?

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.”

Read More

Related news

Novartis receives EC Approval for next-gen anti-VEGF treatment for wet AMD

Novartis receives EC Approval for next-gen anti-VEGF treatment for wet AMD

21 Feb 2020

Beovu is the only anti-VEGF treatment approved in Europe for wet AMD that offers the option to start eligible patients on 3-month dosing intervals immediately after the loading phase.

Read more 
The game is on for connected devices

The game is on for connected devices

20 Feb 2020

Global biologics markets, delivery device innovation and smart packaging ‘unpacking’ new growth opportunities for pharma.

Read more 
Management healthcare consultancy opens new offices in New York and London

Management healthcare consultancy opens new offices in New York and London

19 Feb 2020

The expansion will enable Putnam Associates to access the European market and to offer more localised support to its clients.

Read more 
CPhI South East Asia rescheduled for July 2020

CPhI South East Asia rescheduled for July 2020

18 Feb 2020

Event move ensures extra precautions and safety measures taken

Read more 
Sphere Fluidics expands to increase supply of surfactant for droplet microfluidics

Sphere Fluidics expands to increase supply of surfactant for droplet microfluidics

18 Feb 2020

Investment in resources to meet demand for large-scale supply of patented biocompatible surfactant.

Read more 
Dr Reddy's to acquire Wockhardt divisions

Dr Reddy's to acquire Wockhardt divisions

18 Feb 2020

Deal sees 62 brands in multiple therapy areas and a manufacturing plant transfer to the company

Read more 
Sartorius sharpens its brand focus

Sartorius sharpens its brand focus

17 Feb 2020

The company aims to simplify its customers’ work and thus help them to achieve medical progress and make innovative medicines available faster.

Read more 
FDA success for MedPharm Centre of Excellence

FDA success for MedPharm Centre of Excellence

14 Feb 2020

The inspection was triggered by data generated by MedPharm as part of a client’s ANDA for a generic topical product.

Read more 
Report predicts booming ASEAN generics export market for 2020

Report predicts booming ASEAN generics export market for 2020

13 Feb 2020

The changing opportunities are attributed to rising GMP standards and increased regional harmonization.

Read more 
Partnership formed to deliver effective biopharma industry testing

Partnership formed to deliver effective biopharma industry testing

12 Feb 2020

Stevanato and Pfeiffer Vacuum will provide biopharma companies with advanced container closure integrity analysis and testing protocols.

Read more