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Business

Recipharm To Buy Italian Corvette

by Alex Scott
August 25, 2014 | APPEARED IN VOLUME 92, ISSUE 34

The Swedish pharmaceutical services firm Recipharm has agreed to acquire Milan-based Corvette Pharmaceutical Services from Group LBO Italia Investmenti, an Italian private equity group, for $160 million. Corvette, which has 250 employees, makes active pharmaceutical ingredients and provides a range of services for the drug industry. It generated sales in 2013 of $79.5 million. Recipharm says the acquisition will provide new customers, new technologies, and production capabilities from Corvette’s three plants near Milan.

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