Recipharm’s acquisition of the pharma division of Kemwell’s Indian operation has been approved by The Indian Foreign Investment Promotion Board. The closing is expected to occur at the beginning of 2017 and includes the acquisition of Kemwell’s pharmaceutical manufacturing and development operations located in Bengaluru known as Recipharm Pharmaservices Private Ltd.
 
This past April, Recipharm AB signed two agreements to acquire Kemwell’s pharmaceutical contract development and manufacturing (CDMO) businesses with U.S. and Swedish operations, in a transaction valued at approximately $104 million.
 
These businesses had approximately $91.6 million in 2015 preliminary sales. The acquisitions add U.S. FDA and EU approved manufacturing operations and expanded capabilities in India, as well as established API and dose form manufacturing facilities in Sweden.
 
Kemwell’s India business is expected to employ around 1,400 people at closing, and comprises both development services as well as commercial manufacturing of solid, semi-solid, liquid and topical dose products. The solid dosage plant has approvals from U.S. FDA and EU, among other regulatory bodies. The oral liquids production plant is specialized in automated high throughput large volume manufacturing, mainly for the Indian subcontinent. The development business offers services for formulation development, small-scale manufacturing for clinical trials, and analytical services.