skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.
Global Search Configuration

Sweden's Recipharm has agreed to buy UK-based Consort Medical for £505m ($652m) to become a leading inhalation-device company and top five global CDMO.



Swedish pharmaceutical group Recipharm AB announced on 18 November that it struck a deal to buy UK-based contract development and manufacturing organization Consort Medical PLC for £505m ($652m), bolstering Recipharm's annual  revenue to $1.1bn.

Recipharm, which develops and manufactures products for pharmaceutical and smaller research and development companies on a contractual basis, said the deal would raise its scale and profitability, giving it annual sales of 10.8bn Swedish krona ($1.12bn) and pro forma operating profit before depreciation and amortization of 1.79bn Swedish krona ($185m).

Consort will receive £10.10 per share, valuing the share capital at £505m on a fully diluted basis. Consort's shares rose 42% reaching £10.40 on 18 November, following the news of the deal. 

Shore Capital analysts Adam Barker and Tara Raveendransaid said in published reports that the deal makes sense strategically in that it gives Recipharm a footprint where Consort has a strong presence, namely in respiratory devices and injectables. It also provides Recipharm access to the biologics market over the medium-term via Consort's Syrina VapourSoft technology.

Recipharm said Consort's product portfolio and services are “highly complementary” with its capabilities. Consort’s Bespak division manufactures delivery devices for respiratory, nasal and injectables and ocular products and point-of-care diagnostics, and its Aesica unit provides development and manufacturing of finished dose and active pharmaceutical ingredients (APIs).

"In our view, Bespak is already acknowledged as a leading drug-device developer and manufacturer and is a perfect fit for Recipharm's broader pharmaceutical capabilities," said Thomas Eldered, Recipharm's CEO. "The enlarged group will be able to provide finished dose forms in Bespak's key technologies and provide customers with a far more integrated approach. The Aesica business will further expand our capabilities and capacities in both API and finished dose manufacturing whilst providing access to a new customer base."

Read also


Next steps

Whether you’re a small biotech start-up, research firm, generic manufacturer or a global pharmaceutical giant, you need focused, independent insight and opinion on market developments.

Our team is ready to hear from you for a particular request or area of interest. Please do not hesitate to reach out and discuss.

Contact us for product technical and account support.

  • US Toll-Free   : +1 888 670 8900 
  • US Toll             : +1 212-600-3520
  • UK & Europe : +44 (0) 208 052 0700

Have an immediate and specific information need?

Browse and buy from 1000s of analysis and research reports now: