Recipharm completes acquisition of a majority stake in Indian CMO Nitin Lifesciences
The contract development and manufacturing organisation, Recipharm AB (publ) announces that it has today completed the acquisition of a majority stake in Nitin Lifesciences Limited (“Nitin”), an Indian sterile injectables CMO, currently owned by the Sobti family.Recipharm has acquired 74 % of the shares for a purchase consideration of INR 6,713 million (SEK 824 million)[1] on a cash and debt free basis. Thomas Eldered, CEO of Recipharm said “I am delighted that we have now completed this transaction. The combination of Nitin and Recipharm represents an important step in the development