Recipharm is a leading global Contract Development and Manufacturing Organisation (CDMO), employing 5,200 people and operating in over a hundred markets worldwide.
Recipharm offers pharmaceutical manufacturing services across various dosage forms, including sterile fill & finish, oral solid dosage, and biologics. Additionally, they provide clinical trial material development and manufacturing services, as well as pharmaceutical product development.
Recipharm manufactures several hundred different products for customers ranging from large pharmaceutical companies to smaller research and development firms.
History
Recip 1995-2007
In March 1995, Thomas Eldered and Lars Backsell conducted a
management buyout
A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management- and/or leveraged buyouts became noted phenomena of 19 ...
of a
Pharmacia
Pharmacia was a pharmaceutical and biotechnological company in Sweden that merged with the American pharmaceutical company Upjohn in 1995.
History
Pharmacia company was founded in 1911 in Stockholm, Sweden by pharmacist Gustav Felix Grönfel ...
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. 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
The ISO 14000 family is a set of international standards for Natural environment, environment management systems. It was developed in March 1996 by International Organization for Standardization. The goal of these standards is to help organizations ...
environmental management system.
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.
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. 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. 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 EQT may refer to:
* EQT AB, a Swedish global private equity group, including infrastructure and real estate
** EQT Ventures, the venture capital arm of EQT
* EQT Corporation, an American petroleum and natural gas company
* EQT Plaza, a skyscr ...
acquired Recipharm
for $2.1 billion. In March 2021, Mark Funk joined Recipharm as CEO, replacing Thomas Eldered who remains on the board of directors.
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.
External Recognition
*2006 - Environmental Leadership award from the NMC Swedish Association for Sustainable business
*2012 -
Ernst & Young
EY, previously known as Ernst & Young, is a multinational corporation, multinational professional services partnership, network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms, Big F ...
‘Entrepreneur of the Year prize’ for Best International growth was awarded to Thomas Eldered and Lars Backsell
*2014 - The Royal Patriotic Society awarded Thomas Eldered and Lars Backsell with the Enterprise medal for outstanding entrepreneurship
*2015 - The annual SwedenBIO Award was presented to Recipharm for their contribution to Sweden life science during the year
References
External links
Recipharm.comList of all Award winners since 2008
{{Authority control
Companies of Sweden
Manufacturing companies based in Stockholm
Contract research organizations
Contract development and manufacturing organizations