EQT makes $2.1B bid to purchase Recipharm

Private equity firm EQT AB has made an offer to acquire Recipharm AB, a contract development and manufacturing organization (CDMO), for $2.1 billion, EQT announced. The offer is expected to be made public on or around Dec. 17.

As Bloomberg reported, Sweden-based EQT has already secured ownership of about 25.7% of the shares and 74.3% of the votes in Recipharm via its chairman, Lars Backsell, and Thomas Eldered, its CEO.

The firm will be offering shareholders $26.24 in cash per share, the report stated.

Other reports noted that Recipharm recently signed a preliminary deal with Moderna Inc to fill and seal the packaging for the biotech's mRNA Covid-19 vaccine.

Recipharm signed a letter of intent with Moderna to help "formulate, fill and finish" its Covid-19 vaccine, as an FDA advisory board prepares to meet on Thursday to discuss Moderna's request for emergency use authorization (EUA).