Recipharm to acquire majority stake in Indian CMO Nitin Lifesciences creating Emerging Markets platform
The contract development and manufacturing organisation, Recipharm AB (publ) announces today that it has entered into an agreement whereby it will acquire a majority stake in Nitin Lifesciences Limited (“Nitin”), an Indian sterile injectables CMO, currently owned by the Sobti family.Recipharm will acquire 74 % of the shares for an estimated purchase consideration of INR 6,712 million (SEK 872 million) on a cash and debt free basis.Recipharm will join forces with the founding and managing owners, the Sobti family, in order to further grow the current business with demanding domestic and