Recipharm has acquired Mitim for £53.5m (SEK 640m), adding scale and technology in injectable beta lactams to Recipharm’s portfolio, according to the company
Mitim is a pharmaceutical contract manufacturing company located in Italy. The company’s product portfolio includes beta lactams in dry sterile powder for injectable solutions, tablets and oral suspensions.
Other Mitim products include injectable sterile solutions, oral solids and liquids as well as semi-solids.
The Italian manufacturing site has five production lines and Mitim completed a significant investment in a new production line for injectable beta lactams in March 2015, according to Recipharm.
Mitim’s shares were acquired by Recipharm’s Italian subsidiary, Recipharm Italia.
Thomas Eldered, CEO Recipharm, said: “This acquisition is very exciting for Recipharm and represents an important step in our consolidation of the CDMO (contract developing and manufacturing organisation) industry.
‘The transaction also cements our leading position in beta lactam production and provides Recipharm not only with additional scale but also opportunities to realise commercial and operational synergies as we combine it with our existing Italian business”.
Giorgio Bruno, CEO of Recipharm Italia, said: “I am confident with Mitim’s help and experience we will continue to grow the business from our now substantial Italian platform.”