Recipharm splits under new owner

Blue Wolf Capital Partners, a US-based private equity firm, has agreed to acquire seven Recipharm sites from EQT Private Equity, subject to regulatory approval in a deal that should close in Q4. These are located at Solna, Strängnäs, Höganäs, Karlskoga and Uppsala in Sweden; Pessac, France; and Parets, Spain.

In parallel, the Advanced Delivery Systems Business unit, Bespak, will be split out to form a new company focused on drug-device combination products and drug delivery devices for pulmonary and nasal inhalation. This will leave Recipharm as a focused CDMO active in oral solid dosage forms, medium to high potency drugs, lyophilisation and pre-filled syringes, nucleic acids and viruses.

Peter Kruger has been named group managing director at the new Recipharm, while Chris Hirst will be CEO of UK-headquartered Bespak. Kåre Schultz, formerly CEO of Teva, has been appointed chairman of the board at Bespak.