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BRIEF-Recipharm says to buy 74 pct of India's Nitin Lifesciences
October 20, 2015 / 5:53 AM / 2 years ago

BRIEF-Recipharm says to buy 74 pct of India's Nitin Lifesciences

Oct 20 (Reuters) - Recipharm Publ AB

* Recipharm to acquire majority stake in Indian CMO Nitin Lifesciences creating emerging markets platform

* Says combined entity will have enhanced scale, reach and profitability with current pro-forma revenue of SEK 3.5 billion

* Says estimated purchase consideration of INR 6,712 million (SEK 872 million) on a cash and debt free basis

* Says accretive to organic growth and EPS

* Says completion expected in Q1 2016

* Says will acquire 74 percent of Nitin shares

* Says implied value for 100 percent of Nitin equates to INR 9,071 million (SEK 1,179 million) Source text for Eikon: Further company coverage:

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