Bespak Separated From Recipharm To Form a New Standalone Company

• Bespak, backed by EQT Private Equity, has separated from Recipharm to form a new standalone company.

• The company has announced a significant investment in manufacturing capacity at its Holmes Chapel site.

Bespak contract development and manufacturing organisation (CDMO), has announced the completion of its separation from Recipharm’s former Advanced Delivery Systems Business Unit to form a new standalone company.

Chris Hirst, formerly President of the Advanced Delivery Systems Business Unit at Recipharm, has been named CEO of the newly formed independent company. “The spin-out of three former Recipharm sites, each with a long history in inhaled and nasal drug delivery, creates a new company with a clear vision and a unique offering for customers. The new Bespak will be the trusted innovation partner and sustainability leader in the transition to greener inhalers,” Hirst said.

Kåre Schultz, formerly CEO of Teva Pharmaceutical Industries, has been appointed Chairman of the Board of Directors of Bespak. Schultz expressed his enthusiasm for the new role, stating, “I’m looking forward to working with the Board of Directors to help steer the new Bespak in its mission to help both patients and planet and to work in partnership with major global pharmaceutical companies to ensure continued patient access to life-saving medicines.”

In addition to the spin-out, Bespak announced a significant further investment in manufacturing capacity at its Holmes Chapel site. This investment will enable the installation of commercial-scale and pilot-scale filling lines for the manufacture of pMDIs using HFA-152a, a propellant with a significantly lower Global Warming Potential (GWP) than currently used propellants.

This announcement builds on the site’s landmark milestone last year as it became the first CDMO to manufacture a pMDI at commercial scale with HFO-1234ze, a near-zero GWP propellant. Chris Hirst added: “We are committed to leading the transition to low GWP propellants in pMDIs, and in making this investment we become the only CDMO – and indeed the only site – in the world to have the capability to manufacture at scale with both new green propellants: HFA-152a and HFO-1234ze.”

Matthias Wittkowski, Partner within EQT Private Equity’s Advisory Team, said: “The completion of the separation from Recipharm to form an independent company focussed on advancements in inhaled and nasal drug delivery – and particularly in the transition to greener pMDIs – creates a market leader in this specialised CDMO space. The creation of the new Bespak, combined with this significant investment in expanded manufacturing capability and capacity, provides a strong platform for growth and a unique opportunity to enable the industry to become more sustainable for the future. We are impressed by the experienced team led by Chris, and we look forward to supporting the new Bespak in its next phase of growth.”