Recipharm picks up two more plants, this time in Portugal

Sweden's Recipharm is expanding its production footprint for the second time this year, with a €112.3 million ($140 million) cash and stock deal to buy Portuguese contract manufacturer and developer Lusomedicamenta Sociedade Técnica Farmacêutica. Lusomedicamenta has two plants in Lisbon, the bigger one focused on manufacturing and packaging solids and liquids and a smaller facility that makes effervescent tablets and ophthalmic products, as well as doing drug development, a Recipharm spokesperson said in an email. The Lisbon-based company had revenues of €50.7 million ($63.4 million) last year. Recipharm agreed in August to pay $164.5 million to buy Italy's Corvette Pharmaceutical Services, a drug manufacturer with annual revenues of around €57.7 million ($77 million). Story | More