Recipharm

From WikiProjectMed
Jump to navigation Jump to search
Recipharm AB
FormerlyRecip
IndustryPharmaceutical Contract Development and Manufacturing Organisation
FoundedStockholm, Sweden, 1995
Headquarters
Stockholm, Sweden
Key people
Richard Ridinger, Chairman, Marc Funk, CEO, Joaquim Mascaró, CFO
ProductsPharmaceutical products for humans
RevenueSEK 11,069 million (2020)
Number of employees
8,666 (2020)
Websiterecipharm.com

Recipharm AB is one of the five largest pharmaceutical contract development and manufacturing organizations in the world, with production facilities in Sweden, France, Germany, Italy, Spain, Portugal, India and the UK as well as development sites in Sweden, Israel and the United States. The Swedish-based company employs around 9,000 people and operates over 30 facilities. The company provides pharmaceutical companies around the world with end-to-end development and manufacturing services, including a wide variety of dosage forms. Recipharm was listed on the Stockholm Stock Exchange in April 2014.

History

Recip 1995-2007

In March 1995, Thomas Eldered and Lars Backsell conducted a management buyout of a Pharmacia solid dose tablet manufacturing facility in Årsta, Stockholm and formed the company “Recip”. The facility had 130 employees and a turnover of SEK 220 million.[1] The company continued to manufacture pharmaceutical products for Pharmacia during a transition period while it also developed its own products. Recip also began providing contract manufacturing services to other pharmaceutical companies.

In 1997, Recip was believed to be the first pharmaceutical company in the world to certify its entire operations according to the ISO 14001 environmental management system.[2] From 1998, the company began to grow by acquiring facilities in Sweden. The brand name “Recipharm” was established in 2001 for the growing contract manufacturing part of Recip's business. In 2007, the Recip part of the business and the company's own portfolio were divested to Meda.[3]

Recipharm 2007-present

Following the sale of Recip, the company focused on its contract manufacturing business. The capital from the sale of Recip was used to make further acquisitions – initially in Europe and later the US and India. Acquisitions were used to broaden the company's offering and customer base, and to enter new markets.

Recipharm became a public listed company on Nasdaq Stockholm in 2014.[4] Between 2014 and 2019, Recipharm's sales grew by an average of more than 30 per cent annually, including a combination of internal growth and acquisitions.[citation needed] In 2020, Recipharm completed its largest acquisition to date. The £505 million takeover of UK-based Consort Medical added around 2,000 employees and ten European facilities to the company, as well as new device capabilities.

In February 2021, Private equity firm EQT acquired Recipharm[5] for $2.1 billion. In March 2021, Mark Funk joined Recipharm as CEO, replacing Thomas Eldered who remains on the board of directors.[5]

The Recipharm International Environmental Award

Recipharm's International Environmental Award is annually awarded for the best environmental performance or environmental innovation within the pharmaceutical industry or academia.[6]

External Recognition

  • 2006 - Environmental Leadership award from the NMC Swedish Association for Sustainable business
  • 2012 - Ernst & Young ‘Entrepreneur of the Year prize’ for Best International growth was awarded to Thomas Eldered and Lars Backsell[7]
  • 2014 - The Royal Patriotic Society awarded Thomas Eldered and Lars Backsell with the Enterprise medal for outstanding entrepreneurship[8]
  • 2015 - The annual SwedenBIO Award was presented to Recipharm for their contribution to Sweden life science during the year[9]

References

  1. ^ "The Recipharm story". Recipharm. Archived from the original on 2016-08-16. Retrieved 17 March 2017 – via Internet Archive.
  2. ^ Nyström, Anna (2 May 2005). "Läkemedelsföretag med miljöprofil" [Pharmaceutical company with an environmental profile]. Miljö & Utveckling (in Swedish). Retrieved 10 September 2022.
  3. ^ "Meda acquires Recip" (PDF) (Press release). Meda AB. Retrieved 10 September 2022.
  4. ^ "Recipharm". Recipharm. 2014. Retrieved 17 March 2020 – via NASDAQ.
  5. ^ a b "Recipharm". Current Portfolio. EQT. 2021. Retrieved 10 September 2022.
  6. ^ "Recipharm International Environmental Award".
  7. ^ "Lars Backsell och Thomas Eldered, Recipharm, från Jordbro är två av Sveriges främsta entreprenörer". News Powered by Cision (in Swedish). Retrieved 2020-03-17.
  8. ^ "Founders of Recipharm awarded enterprise medal". Nordic Life Science – the leading Nordic life science news service. 2014-04-11. Retrieved 2020-03-17.
  9. ^ "Recipharm AB: Recipharm wins SwedenBIO Award - Analysguiden". Aktiespararna (in Swedish). 5 June 2015. Retrieved 2020-03-17.

External links

Retrieved from "https://mdwiki.org/wiki/Recipharm"