Swedish CDMO Recipharm has announced that it will acquire Consort Medical, the parent company of device maker Bespak and CDMO Aesica, in order to “Become a Leading Inhalation Company and Top Five Global CDMO Player.” According to Recipharm, the companies have agreed on a cash offer of £505 million.
In the past few years, Recipharm has aggressively expanded its OINDP capabilities, with the purchase of Cirrus Pharmaceuticals in 2016 and the acquisition of Sanofi’s inhalation contract manufacturing business and facilities in Holmes Chapel, UK in 2018.
The announcement of the Consort offer specifically cites “Inhalation technology leadership” as one of the rationales for the deal. In 2015, Consort combined the services of Bespak and Aesica in order to provide a single supply chain for OINDPs from early development through commercial manufacturing and packaging. Recipharm offers end-to-end OINDP services through its Inhalation Solutions program, which it launched in May 2019.
According to the announcement, “Recipharm has been an admirer of Consort’s innovative delivery technologies, which are highly complementary to Recipharm’s capabilities in the development and commercial supply of both inhaled and sterile injectable finished dose forms.”
Recipharm CEO Thomas Eldered commented, “I am excited at the prospect of combining Recipharm with Consort, which is extremely complementary. In our view, Bespak is already acknowledged as a leading drug device developer and manufacturer and is a perfect fit for Recipharm’s broader pharmaceutical capabilities. The enlarged group will be able to provide finished dose forms in Bespak’s key technologies and provide customers with a far more integrated approach. The Aesica business will further expand our capabilities and capacities in both API and finished dose manufacturing whilst providing access to a new customer base.”
Consort CEO Jonathan Glenn said, “Consort’s strategy has been to focus on expanding its businesses into new markets and geographic territories, and on developing our combined drug/device offering. Recipharm’s capabilities and footprint in drug manufacturing will enhance both our Bespak and Aesica businesses. We believe that customers of both businesses will value the offering and enhanced scale of the combined business.”
Read the Recipharm press release.
