Recipharm divests the rights to its ThyroSafe® product
Recipharm today announces that it has signed and closed an agreement with SERB SA (“SERB”) on a divestment of its rights to its potassium iodide product ThyroSafe®except for the US territory. The total consideration amounts to EUR 9.5 million (SEK 97 million) with EUR 5.9 million paid upon closing and EUR 3.6 million later, conditional upon reaching certain product development milestones. SERB will according to the agreement have an option to acquire the US rights at a later stage.
SERB has in parallel entered into a long term manufacturing agreement with Recipharm for the supply of the product. Recipharm will continue to use its expertise in manufacturing to serve the market with a very important product whereas SERB, who specializes in the area of emergency care, can further develop the market for ThyroSafe®to reach its potential as a world class product for prevention of consequences of radiation exposure.
Carl-Johan Spak, Executive Vice President at Recipharm comments: “We are very pleased to have reached this agreement with SERB as we believe they are far better placed to maximize the potential of ThyroSafe®by including it within their portfolio of emergency products. Many countries stockpile potassium iodide products to have as a preventive measure in case of sudden radiation exposure, but there are still many countries that have not taken sufficient action in this area. I am confident that SERB will be able to grow the volumes of the product. We are also delighted that we will continue to provide our expertise in the manufacture of ThyroSafe®in the long term”.
Jeremie Urbain, Chairman at SERB says “With our excellent knowledge in the market for emergency medicine we are ideally placed to grow and develop ThyroSafe®. We are very pleased that Recipharm will continue to supply to us in the long term and look forward to further developing this partnership”.
For further information, please visit www.recipharm.com or contact:
Thomas Eldered, CEO, +46 8 602 52 10
Carl-Johan Spak, Executive Vice President, +46 8 602 53 13
This information is information that Recipharm AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on June 15, 2018 at 11:30 am.
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing around 5,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, and pharmaceutical product development. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm’s turnover is approximately SEK 5.3 billion and the company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden. The Recipharm B-share (RECI B) is listed on Nasdaq Stockholm.
For more information on Recipharm and our services, please visit www.recipharm.com
SERB is a European specialty pharmaceutical group focused on prescription medicines which address rare and life-threatening diseases. Headquartered in Belgium. SERB has generated €65m of sales in c. 80 countries with a strong European footprint having operational offices in Brussels, Paris, London and Luxembourg and a growing presence in the United States. Following strategic acquisitions and targeted developments, SERB has succeeded in establishing a consistent drugs portfolio focused on niche specialty pharmaceuticals to ensure continuous availability of life-saving medicines and answer unmet medical needs.
For more information, please visit https://serb.eu/
Recipharm AB (publ)
Corporate identity number 556498-8425
Address Box 603, SE-101 32 Stockholm, Sweden, Telephone +46 8 602 52 00