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Recipharm Acquires Flamel Technologies Facility in Strategic Partnership Deal
Swedish CDMO, Recipharm AB, has entered into a long-term collaboration with Flamel Technologies SA, a drug-delivery company based in France. Under the terms of the agreement, Recipharm will acquire Flamel?s development and manufacturing facility located in Pessac, France, for EUR10.6 million plus the value of the inventory.
Swedish CDMO, Recipharm AB, has entered into a long-term collaboration with Flamel Technologies SA, a drug-delivery company based in France. Under the terms of the agreement, Recipharm will acquire Flamel’s development and manufacturing facility located in Pessac, France, for EUR10.6 million plus the value of the inventory. This strategic partnership will enable Recipharm to expand its services in France and increase the scale of its European reach.
Recipharm will incorporate Flamel’s drug-delivery technologies, which include the addition of new spray granulation and spray coating capabilities into its portfolio of offerings.
According to the press release, Recipharm will also separately make an investment of €10.5m in newly issued Flamel Shares, which corresponds to approximately 2.3% of Flamel shares.
Flamel will still have access to its development and manufacturing capabilities in Pessac. The French company will also be able to potentially use any of Recipharm’s other facilities for the development and manufacture of its proprietary pipeline. Recipharm has an option to negotiate with Flamel for the European rights to any product that Flamel plans to license for sale in the European market.
The deal is expected to close at the end of 2014.
Source: Recipharm
