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    We are committed to decarbonisation and helping our customers meet their sustainability objectives by transitioning their pMDI products to the new propellants and helping reduce the Green House Gas (GHG) emissions from their products. Recipharm is working hard to help customers identify and reduce GHG emissions related to both product manufacturing and usage with the common aim of meeting the requirements of the Paris Agreement of limiting global warming to 1.5 degrees Celsius. Not only that, but as other industries are also asked by regulators to phase-out propellants with higher GWP, it’s likely that the existing propellants will become less available and more costly. It is therefore important that we prepare to work with new propellants to safeguard the supply of pMDIs to patients. 2022 is an exciting year for Recipharm and our investment in these new manufacturing lines will support us in introducing more sustainable propellants to our pMDI production.
    Jean-François Hilaire, Head of the Advanced Delivery Systems business unit at Recipharm
    We are excited about the next phase of working with Recipharm. We’re really looking forward to addressing the challenges of reformulation for low-GWP inhalation products with the Recipharm team.
    Professor Darragh Murnane at the University of Hertfordshire
    This acquisition is an important step in growing our Biologics business and developing our US presence. We will be building on the pioneering excellence which lies at the heart of these companies and providing drug developers in the Biologics market with scientifically differentiated CDMO services and expertise for ATMPs. These deals, together with our recent acquisition of GenIbet, a specialist in the manufacture of biological clinical material, mean that we will be well placed to develop new capabilities in innovative technologies across gene therapy, viral vectors, mRNA/ plasmids, oncolytic virus and microbiome. I would also like to take this opportunity to congratulate Mark on his achievements in building the Arranta Bio operation so successfully. I am looking forward to working with both David as he takes over the leadership at Arranta Bio and with Tom Hochuli at Vibalogics as we move into the next exciting phase of our combined growth. We are thrilled to be closing both acquisitions and look forward to welcoming the Arranta Bio and Vibalogics teams into the Recipharm organisation.
    Marc Funk, CEO of Recipharm
    Given the unprovoked invasion of Ukraine and the tragic humanitarian crisis which is now unfolding, we believe it is important to offer our help wherever it can be most effective. We at Recipharm are working with NGO partners to provide urgent aid and other humanitarian assistance to refugees. Our employees are keen to engage with this issue and to lend their support where they can, so we are setting up a matched funding arrangement to facilitate the donation process, working in conjunction with UNICEF, our chosen partner.
    Marc Funk, CEO of Recipharm
    The Monts facility demonstrates our commitment as a business to meet not just present customer demand for aseptic filling, but future customer requirements, and we are investing significant sums in updating the facility and expanding its capacity. While we are bolstering our biologics capabilities, we also continue to offer strong small molecule expertise, providing a single partner to the industry for all their commercial scale aseptic filling needs. The current experience with the Monts project suggest opportunities for further breakthroughs in productivity and line flexibility.
    Claus Tollnick, Head of Sterile Fill & Finish Operations at Recipharm
    We are excited by the opportunities that are already apparent from working with true pioneers in the area of virotherapy manufacturing. We are delighted to welcome our new colleagues from Vibalogics to Recipharm and are committed to support and even accelerate growth in the years to come and to continue to partner with customers in virus manufacturing solutions. This acquisition strengthens Recipharm’s presence in ATMPs and enables us to get closer to our US customers. We look forward to working with the Vibalogics team, building links across the wider Recipharm organisation to make this business a huge success.
    Marc Funk, CEO at Recipharm
    Since 2006 Vibalogics has developed a specialized CDMO business and a leading virotherapy manufacturing platform that has contributed to advancing our customers’ products through development and into global clinical trials, all made possible by our dedicated employees and investors. We are excited to be joining the Recipharm organization and having the opportunity to leverage the breadth and depth of its world leading infrastructure and experience.  This furthers our commitment to supporting our customers and the patients who benefit from the exciting developments we are witnessing in the virotherapy field.
    Tom Hochuli, CEO at Vibalogics
    We welcome Arranta and its team of experts who boast a strong reputation in the CDMO industry. Arranta is a leading player in its field that we are proud of bringing under the Recipharm umbrella and continue to build in line with our vision of supporting biotechs by providing process development, manufacturing expertise and bold solutions to take their programs from lab to patient. This acquisition is another important step for us in growing our biologics business and developing a strong presence into the US. We look forward to working closely with the Arranta team, building links across the wider Recipharm organisation to make this business a huge success.
    Marc Funk, CEO at Recipharm
    I am convinced that Recipharm will be a great home for Arranta and our talented team and that together we can fulfil our joint vision of building the leading ATMP CDMO. We share Recipharm’s vision of focusing on ATMP customers with novel manufacturing solutions and we see a clear opportunity to accelerate to global scale in this new context.
    Mark Bamforth, CEO at Arranta
    We’re delighted to welcome GenIbet and its talented team of experts. GenIbet is a leading player in its field so we’re proud to bring it under the Recipharm umbrella and tap into its broad offering in novel modalities and incredible scientific expertise. This acquisition is an important step for us in growing our biologics business. We look forward to working closely with the GenIbet team, building links across the wider Recipharm organisation to make this business a huge success.
    Marc Funk, CEO of Recipharm
    We’ve enjoyed a great deal of success at GenIbet, and now is a fantastic time to be joining with Recipharm to share our expertise and broad service offer. I’m thrilled that GenIbet will play an important role in Recipharm’s Biologics-focused future. Combining our experience and expertise with Recipharm’s capabilities and market reach, will make a significant difference for customers on an international scale.
    Raquel Fortunato, CEO at GenIbet
    We are proud to be involved as the CDMO of choice in this fantastic step forward for Morocco and Africa. Breaking ground on a facility of this magnitude is a significant milestone and reflects the depth of our joint commitment to meeting Morocco’s long term healthcare needs. The past two years have shown the importance of reliable vaccine supply, and we are honoured to have been asked to use our expertise and experience in fill finish manufacturing to produce vaccines and other biotherapeutics in Morocco. Together with all parties involved, we will work to ensure that countries across Africa have greater access to the healthcare they need.
    Marc Funk, CEO of Recipharm
    We are very proud to be supporting a big pharma partner in the delivery of a vital vaccine to the market. This deal is indicative of Recipharm’s successful and ongoing product portfolio diversification. We’ve invested heavily into new capabilities that have built on our BFS expertise and as a result, strengthened our biotech offering. We are now in a position to welcome new biopharma projects to the Kaysersberg site.
    Yves Buelens, General Manager at Recipharm’s facility in Kaysersberg
    We are delighted to have the Cramlington Site join the Pharmaron Group. This acquisition complements and further enhances Pharmaron’s CMC capabilities in the United Kingdom and China. We are committed to expanding the Cramlington Site to meet growing demand. Together with our API manufacturing facility expansion in China, this transaction is another important step in realizing our vision of becoming a leading global provider of integrated small molecule drug R&D and manufacturing services.
    Dr. Boliang Lou, Chairman and Chief Executive Officer of Pharmaron
    This divestment helps us to streamline our operations in line with our strategic goals and better align with our customers’ evolving needs. I am pleased that the Cramlington Site will get a committed owner with the capacity and capability to develop it to its full potential. As a top five global CDMO, we will continue to develop and invest in our highly successful contract manufacturing business.
    Marc Funk, CEO of Recipharm
    This divestment will help strengthen our financial position and we see it as a positive step in streamlining our operations and consolidating our position as a top five global Contract Development and Manufacturing Organisation. I am pleased that this business will get a committed owner with the capacity and capability to develop it to its full potential. We will continue to develop and invest in our highly successful contract manufacturing business.
    Marc Funk, CEO of Recipharm
    We are happy to have made, as our first investment, the acquisition of a site with a great reputation for quality and service, the cornerstones of our values. We are confident that, with the excellent team in place, Astrea-Fontaine will be able to grow rapidly while satisfying our customers and bringing peace of mind to all. Our plans are to make this site a state-of-the-art facility and we will invest in people and equipment to reach our goal.
    Elie Vannier, Chairman of Astrea Pharma
    The SMI platform has been designed specially to deliver a true turn-key device solution to the customer that requires minimal customisation and simplifies the formulation process. As a result, we can minimise device and drug development timeframes in collaboration with Recipharm, allowing our customers to focus on clinical research.
    Wilbur de Kruijf, General Manager, Resyca
    It’s great to be able to announce the inauguration of our new analytical laboratory under Recipharm Analytical Solutions™. Despite all the challenges the pandemic has presented, our team has worked diligently to complete the project and ensure the laboratory is operational, on time. We’re confident the new laboratory will bolster our ability to support our customers and meet their method development, validation and stability studies requirements while maintaining the quality services they’re accustomed to from Recipharm.
    Ramesh Jagadeesan, Ph.D, Assistant Vice President
    We are delighted to present the 2020 award to Dr. Amy Pruden. Her work, which has given deeper understanding of the microbial ecology of water systems, is widely recognised and highlighted. Her work concerning antibiotic resistance is particularly interesting since this is a known challenge for the pharmaceutical industry, healthcare and agriculture sectors. Dr. Pruden’s research in this area is invaluable and will no doubt go a long way to identifying exactly how antibiotic use impacts risks in relation to antimicrobial resistance.
    Lars Backsell, Chairman of the Board of Recipharm
    I am very honoured to receive this award and thank Recipharm for this recognition. Our success has really been a team effort, as tackling environmental and public health challenges requires expertise from many disciplines and perspectives. I especially would like to thank my many students for all of their hard work and dedication and I hope that this award offers some inspiration for the future.
    Dr. Amy Pruden, Professor of Civil and Environmental Engineering at Virginia Tech in Blacksburg, Virginia, USA
    Vaccine manufacturing capacity and the associated testing is more crucial than ever, so we’re delighted to be able to further support our customers in the area. The Recipharm team has extensive experience in handling products with aseptic requirements and this accreditation is just the latest step in ultimately bolstering our biologics offering for customers. This will allow us to not only to cater for requirements for the current pandemic, but also future requirements as we continue to see more biologics enter the drug pipeline.
    Kjell Johansson, President Manufacturing Services Europe
    We are seeing some excellent traction in this field and have already signed an agreement with several more in the pipeline. The fit with Recipharm’s broader inhalation activities is making our work with Medspray very closely aligned with our strategy as we work to become the world leading integrated device development and manufacturing provider.
    Jean-François Hilaire, EVP Strategy and Global Integration at Recipharm
    Our partnership with Recipharm cements the exciting opportunities we see for the softmist spray nozzle technology in pharmaceutical applications. The potential advantages to both patient and environment make a highly compelling case for its adoption.
    Han van Egmond, CEO of Medspray
    Roar BidCo places great value on Recipharm's management and employees. Roar BidCo's plans for the future business and general strategy do not currently include any material changes with regard to Recipharm's operational sites, its management and employees, including their terms of employment. Furthermore, there are no employees in Roar BidCo, implying that the Offer will not entail any changes for the management and employees in Roar BidCo.
    The Offeror
    Our efforts during past years to build a resilient top 5 CDMO with global reach will continue to bring benefits to customers and patients. Our short-term priorities are to continue with measures to keep our employees and customers safe and to stay focused on executing our initiatives while capturing several of the interesting growth opportunities that now lie ahead of us. This requires increased capital expenditures over the next couple of years. For 2021 we plan for capex of approximately 9 per cent of sales, to be consider in relation to our current leverage situation. Leverage will also restrict possibilities to participate in industry consolidation in the near term, even though we have the management capacity for further acquisitions. Meanwhile we have a sense of purpose and pride being part of the global fight against the COVID-19 pandemic and we will do our utmost to respond to the uncertainties and challenges we may encounter.
    Thomas Eldered, CEO
    I am very pleased we are further consolidating our relationship with Recipharm and look forward to developing this further with additional capacity. The opportunities for the binx io platform are enormous and it is important to us that we have a reliable partner.
    Jeff Luber, CEO binx health
    We are excited to be part of this project and to be supporting the binx io platform. Point of Care (POC) testing is an under-exploited segment which will only grow and Recipharm sees this opportunity as a strategically important entry into this interesting business segment and highly complementary to the Bespak by Recipharm offering.
    Keyvan Djamarani, CEO of Bespak by Recipharm
    Signing this expanded agreement is a great example of the long-term partnerships we build with our customers. Not only are we committed to providing high quality services and ensuring we meet project requirements, but we invest to adapt in line with our customers’ needs. This really is a testimony to the strength of our relationship with Enzymatica. Recipharm’s strong track record, extensive expertise in managing the development and manufacturing complexities of combined drug and device products, are part of the reason we have enjoyed such a successful partnership to date. We are confident as we move forward, we can continue to provide the high levels of expertise, regulatory experience, quality and resource to support Enzymatica as they continue to grow.
    Kenth Berg, Vice President Business Management at Recipharm
    We’re delighted to have signed this contract with Recipharm. The team’s ability to support us with the production of our products for various markets has been invaluable and we’re confident they’re the right partner for us as we continue to grow on a global scale.
    Claus Egstrand, Chief Operating Officer at Enzymatica
    We are making important progress in the development of the Moderna COVID-19 vaccine and we are pleased to be entering into this collaboration with Recipharm. We look forward to their support in the delivery of our vaccine to market.
    Nicolas Chornet, Senior Vice President, International Manufacturing of Moderna
    This is a material and strategically important agreement for us, and we are delighted to be working with Moderna on such a vital project to support the long-term fight against COVID-19. Our preparations are already well underway with the hiring of new staff and investment in the facility to enable us to meet the challenging timelines.
    Thomas Eldered, CEO of Recipharm
    Recipharm is proud to making this investment. It will be unique in Israel, where we have a talented team who excel at bringing customers molecules to life. Complementing our API development and manufacturing facilities in Europe, the investment provides our customers with a reliable value chain of quality APIs; which will ultimately benefit patients.
    Bernard Pluta, President Development Services
    We are delighted to be working with Moderna on this vital project in order to support the fight against COVID-19. Our operations in France are ideally suited to perform this work by combining our technical and operational knowhow to deliver high-quality pharmaceutical manufacture of biologics with a challenging timeline. We anticipate that the final agreement will be finalised during December.
    Thomas Eldered, CEO of Recipharm
    I am very pleased we can announce this joint venture as it represents another piece in the jigsaw to build Recipharm into a world leading integrated device development and manufacturing provider. The novel softmist technology represents an opportunity to deliver inhaled therapies in a highly environmentally friendly manner without the need for propellants and less drug being wasted. We are already seeing significant interest in such technologies and by combining Medspray’s knowhow in spray nozzle technology with Recipharm’s device and pharmaceutical expertise, we are confident we will provide a unique offering to the market
    Jean-François Hilaire, EVP Strategy and Global Integration, Recipharm
    Adding the softmist technology is well aligned with our overall strategy of making available more novel intellectual property to our customers offering as well as providing pharmaceutical products with less impact on the environment.
    Thomas Eldered, CEO of Recipharm
    We are excited about the establishment of Resyca. By combining all the resources and capabilities of both Medspray and Recipharm we see great potential to offer customers a fully integrated solution from device development through to commercial supply in an environmentally sustainable way.
    Han van Egmond, CEO of Medspray
    The demand for pMDI valves has increased significantly over the last years and we are committed to supporting this growth from our Kings Lynn operation. The investment is a great opportunity to translate our acquisition into new high-quality profitable business and accelerate growth within our Advance Delivery Systems segment.
    Keyvan Djamarani, CEO of Bespak
    The acquisition of Consort has also allowed Recipharm to build a truly integrated platform of inhalation services. This expansion will bolster our offering even further by ensuring we are able to fulfil the forecasted increase in demand for respiratory devices whilst enabling our development team to support customers in inhalation and nasal drug development. In parallel, we are offering support to customers in using new more environmentally friendly propellants in their pMDIs.
    Jean-François Hilaire, Executive Vice President, Strategy & Global Integration at Recipharm
    Our efforts during past years to build a resilient top 5 CDMO with global reach will continue to bring benefits to customers and patients. Overall demand continues to be largely unaffected during the ongoing pandemic and we are securing more valuable new contracts than ever before. We will deliver on our strategy and explore the value creating opportunities we see in the market. Looking forward we see continued good organic growth and we expect to well reach our EBITA-margin and return on operating capital long term targets already during next year.
    Thomas Eldered, CEO
    We have now been able to confirm the beneficial effects of Erdosteine in restoring the pulmonary functions also in patients affected by COVID-19. We are planning to develop further studies to investigate if the molecule can have a role in prophylaxis for this pandemic treatment.
    Katherine Salessi Nia, Medical Manager for Erdosteine at Recipharm
    It’s great to see more investment into our facility. Our sustained growth over the last few years is testament to our talented and passionate team. We continue to look for new ways to develop our offering and implement our continued growth plan, which will naturally bring more employment opportunities to the region.
    Yves Buelens, General Manager at the Kaysersberg facility
    We’re delighted to be able to support Arcturus Therapeutics on such an important project. Our experience in managing the complexity of biologic projects means that we are ideally placed to support from early phase discovery all the way through to successful commercialisation. We’re looking forward to working together and using our development and manufacturing expertise to continue to progress the project.
    Thomas Eldered, CEO of Recipharm
    We’re looking forward to working closely with Recipharm in order to advance our objectives toward distribution of ARCT-021 broadly and playing an important role in global immunization to protect against COVID-19.
    Pad Chivukula, Ph.D., CSO & COO of Arcturus Therapeutics
    We have worked for several years with process development and scale up to commercial scale of the manufacturing of opicapone. The approval in Japan marks a significant milestone for this important product for patients suffering Parkinson’s disease and we look forward to continue to work together with BIAL to supply opicapone to Japan and elsewhere.
    Bernard Pluta, President, Development Services at Recipharm
    The divestments will help strengthen our financial position and we see them as a positive step in streamlining our operations and consolidating our position as a top five global Contract Development and Manufacturing Organisation. I am pleased that these two businesses will get committed owners with the capacity and capability to develop them to their full potential. We will continue to develop and invest in our highly successful Portuguese contract manufacturing business.
    Thomas Eldered, CEO of Recipharm
    Alcohol addiction is a common but serious health problem all over the world, lacking effective treatments. As such there is strong demand for new and improved therapies to help better manage this condition. We are very proud to be able to work with Sobrera on such an important project and we believe that our excellent capabilities at our Centre of Excellence in Oral Solids, will be very valuable assets throughout the partnership.
    Bernard Pluta, President, Development Services at Recipharm
    Increased alcohol intake is strongly related to increased mortality and morbidity and, every year over 3 million people globally die in alcohol related illnesses and accidents. A more efficacious, easy to use product, is much needed to reduce high risk alcohol consumption. This product potentially offers us an opportunity to bring significant value to patients and family and to lessen the socio-economic burden of AUD. The decision to commence the collaboration and start formulation development, marks an important milestone for our company and we’re delighted to be working with Recipharm on this important development work.
    Ann-Charlotte Rosendahl, CEO of Sobrera Pharma
    We have delivered our best quarter ever, in a tough environment. Organic growth was 12 per cent in sales and 34 per cent in EBITA, net profit has never been higher, cash flow was good, and leverage decreased materially. Our COVID-19 strategy has been effective in protecting our employees and safeguarding business continuity. After a challenging start, with lockdowns and other COVID-19 related issues, operating conditions stabilized gradually, and we managed to successfully mitigate these challenges. In addition, we supplied the back log from the first quarter. Operating costs in locations highly affected by COVID-19 have been higher, mainly affecting our Sterile Liquids segment. However, we estimate net effects on results from COVID-19 during the quarter to be overall positive for the group.
    Thomas Eldered, CEO
    During the quarter we managed to successfully mitigate operational challenges from lockdowns and other Covid-19 related issues. In the second half of the quarter we compensated from the April shortfall and in addition managed to supply the back log we had from the first quarter. We therefore estimate net effects on results from Covid-19 during the quarter to be positive. In addition, product mix has been favourable with a material increase in demand for Covid-19 related products and services. This has significantly improved results in the Development & Licensing segment.
    Thomas Eldered, CEO of Recipharm
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