Recipharm announced that it has entered into an agreement to acquire Italian contract development and manufacturing organization, Mitim.
Mitim, located close to Recipharm’s existing operations in Northern Italy, specializes in the filling of injectable beta lactam products. The $75.5 million deal adds an important technology in the filling of injectable beta lactams to the Recipharm portfolio, helping Recipharm grow sales in the U.S. beta lactams market, as well as capitalize on limited competition for the technology in Europe.
According to Transparency Market Research, the beta-lactams class was the largest segment of the global antibacterial drugs market in 2012, with 57% share.
Read the Globe Newswire press release