AZ sells Swedish facility to Recipharm AB
Anglo-Swedish drug major AstraZeneca has sold a specialist biomanufacturing facility in Sodertalje, Sweden, to local contract development and manufacturing company Recipharm AB.
Under the terms of the deal, Recipharm Biotech AB, a newly-formed subsidiary of Recipharm, will lease the AstraZeneca Biotech Laboratory for an initial period of 12 years, while also purchasing all associated equipment and taking on the majority of its existing staff.
AstraZeneca will retain a significant minority stake in the new company, in addition to entering into a supply arrangement for Phase I and II material for one of its development projects. No financial terms were disclosed.
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