Addleshaw Goddard has advised Recipharm AB, a global pharmaceutical contract development and manufacturing company (CDMO) on the successful sale of their API facility in Cramlington to Chinese-based research company Pharmaron.

The AG team was led by Chris Taylor and included Nikhil Chary, Mark Guttridge, Michelle Headrige, Anita Shanghavi, Paul Concannon, Andana Streng and Gerald Brent

Recipharm is one of the five largest pharmaceutical contract development and manufacturing organisations in the world, operating over 30 facilities in 10 countries. The sale is part of their ongoing strategy to strengthen their financial position, streamline operations and consolidate their position as a world-leading CDMO.

Chris Taylor said: "This is a great move for both companies, and also means the site secures a committed buyer with both the capacity and ability to develop it to its full potential. We are delighted to have been able to help make this a reality."

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