Under the new long term supply agreement, Recipharm will manufacture a range of ophthalmic products using Blow Fill Seal technology, further expanding the company’s services offering with the growing technology.
Additionally, Recipharm will acquire Kaysersberg Pharmaceuticals from Alcon and its Kayserberg, France-based manufacturing facility, which will provide potential cooperation with Recipharm’s three other French facilities.
Approximately 260 people currently employed by Kaysersberg Pharmaceuticals will continue their employment under Recipharm.
“We are looking forward to extending our relationship with Alcon and Novartis and I am very pleased that they have had the confidence in Recipharm to make this commitment of a long term manufacturing agreement and sale of Kaysersberg Pharmaceuticals,” said Thomas Eldered, Recipharm CEO.
“Blow Fill Seal technology is a very interesting area which we believe will grow and it therefore forms an important addition to our portfolio. The high skill levels and dedicated employees in Kaysersberg will be a welcome addition into Recipharm and we look forward to working with them to further develop and grow the business.”
The long term manufacturing agreement is expected to add more than €36m ($39.2m) in annual sales.
Closing is anticipated to take place on December 31, 2015.