Recipharm acquires Portuguese CDMO

Swedish pharmaceutical contract development and manufacturing organization, Recipharm AB has acquired Lisbon, Portugal-based based CDMO Lusomedicameta Sociedade Técnica Farmacêutica in a 1 billion Swedish kronor ($134.3 million) transaction.

Lusomedicamenta, together with its subsidiary, had 12 month revenues and adjusted EBITDA for non-recurring items to end September 2014 of 50.7million euros ($62.9 million) and 12.7 million euros, respectively, representing an adjusted margin of 25%. The combined entity will enhance Recipharm’s scale and profitability. Based on LTM September 2014, the combined revenue and EBITDA (pre-Corvette) is 2,725 million kronor and 446 million kronor, respectively.