STOCKHOLM, Sweden, Dec. 30, 2016 /PRNewswire/ -- Further to the announcement on 18th April 2016 that Recipharm would acquire the pharma division of Kemwell's Indian operation, the Indian Foreign Investment Promotion Board has now granted approval for this transaction to take place.
Closing is expected to occur at the beginning of 2017 and comprises the acquisition of Kemwell's pharmaceutical manufacturing and development operations located in Bengaluru known as Recipharm Pharmaservices Private Ltd.
For more information please visit www.recipharm.com or contact:
Thomas Eldered, CEO, firstname.lastname@example.org, telephone: +46 8 602 52 00
Björn Westberg, CFO, email@example.com, telephone: +46 8 602 46 20
This information is published in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ Stockholm. This information was submitted for publication on 30 December 2016, at 10:30 am CET.
Recipharm is a leading CDMO (Contract Development and Manufacturing Organisation) in the pharmaceutical industry employing some 3,500 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 5.0 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
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SOURCE Recipharm AB