Recipharm to buy Mitim for $75m in latest Italian antibiotics sector investment

By Gareth Macdonald contact

- Last updated on GMT

Recipharm to buy Mitim for $75m in latest Italian antibiotics sector investment

Related tags: Pharmaceutical drug, Pharmacology

Recipharm will pay SEK640m ($75m) for Italian antibiotic filling specialist Mitim in a deal expected to complete later today.

Bresica-based Mitim is a privately-owned manufacturer that focuses on production of antibiotics for the local and export markets.

A spokesman for the firm told us "Mitim operates from a single plant and employs around 250 people all of whom will be joining Recipharm.​"

The Swedish CDMO cited growing revenue from beta lactam antibiotics as a specific driver for the deal, explaining that it had seen considerable growth in demand in the US.

Recipharm’s spokesman also cited the lack of competition in the antibiotics filling space as a factor, telling us: “The sterile bet-lactam filling is actually powders and not liquid. The competition for this is limited particularly for facilities which can supply the US. We identified only a few competitors.

Last June active pharmaceutical ingredient (API) firm Saneca Pharmaceuticals claimed it had acquired Europe’s only independent US FDA approved beta lactams facility when it bought drug formulator Suir Pharma Ireland from Mutares AG.

However, the Slovakia-based firm is not a direct competitor for Mitim according to the Recipharm spokesman, who told us: “There is some overlap on solid dose, but the focus of Mitim is definitely on sterile filling so not really a competitor.

The deal comes two years​ after the Swedish CDMO bought Milan-based Corvette Pharmaceutical Services from LBO Italia Investimenti for €100m ($133m).

Corvette operates a number of manufacturing plants, including an antibiotic lyophilisation centre in Lainate.

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