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Recipharm to Acquire Major Stake in Indian Sterile Injectables CMO

Recipharm to Acquire Major Stake in Indian Sterile Injectables CMO

Nitin Lifescience Injectable
Nitin Lifescience Injectable

Swedish contract development and manufacturing organization, Recipharm, plans to acquire 74 percent of shares of Nitin Lifesciences, an Indian sterile injectables contract manufacturing organization,  for $105.2 million. The deal is expected to take place during Q1 2016, following approval from the Indian Foreign Investment Promotion Board, reports BioSpectrumAsia.  

On the proposed acquisition, Thomas Eldered, CEO, Recipharm stated , “The Indian market is particularly attractive showing high growth levels and the transaction firmly establishes Recipharm’s emerging market strategy. Nitin can also be used as a platform for entry into other regions.” Nitin Sobti, COO, Nitin Lifesciences said, “We are delighted to be establishing this new partnership with Recipharm. It will significantly add to our service offering for Indian customers by way of new technologies, best in class account management as well as global standards of GMP and regulatory compliance.”

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