 "Swedish firm Recipharm buys Kemwell businesses for Rs 1360 cr")
Swedish company Recipharm, a pharmaceutical contract development and manufacturing organisation (CDMO), on 30 December 2016 announced that it has received the Foreign Investment Promotion Board’s (FIPB) approval for its acquisition of Kemwell’s Indian operations.
In April last year, Recipharm announced a pact to acquire Kemwell’s pharmaceutical contract development and manufacturing businesses in India, US and Sweden for $ 205 million (about Rs 1360 crore). Recipharm and Kemwell signed two separate agreements for this. While one agreement covered Kemwell’s US and Swedish operations, the second comprised operations in India.
Acquisition of Kemwell expands Recipharm’s capabilities in India as it provides access
