Recipharm buys Italy's Mitim Srl for $ 74 mn

Recipharm AB, the Swedish contract development and manufacturing organisation (CDMO), on February 23, 2016 entered into an agreement to acquire Italian CDMO Mitim Srl for SEK 640 million (about $ 74 million) adding scale and capabilities to the group. Mitim is currently owned by a private Italian family and is specialised in the filling of injectable beta lactam products. Mitim is located in Brescia close to Recipharm’s existing operations in Northern Italy.
 
The acquisition of Mitim consolidates Recipharm’s leading position as a CDMO and adds an important new technology with FDA inspected facilities in the niche area of filling of sterile beta lactams. Sales to the US (the largest markets for these types of products) has significantly increased in recent years through the expansion of partnerships with existing customers who are making new product registrations in the territory. There is limited competition for this technology in Europe.