Sweden's Recipharm has completed the previously announced acquisition of Kemwell’s pharmaceutical businesses in Bengaluru, India, in a deal valued at Skr1.05bn ($118.5m).

The acquisition was initially announced in April last year and will take the company’s sales in emerging markets to more than Skr800m ($89.6m) and extend its capabilities in India.

Furthermore, it will add US FDA and EU approved manufacturing options and expand Recipharm’s manufacturing capabilities.

As part of the deal, Recipharm has a right of first negotiation to acquire Kemwell’s Indian biopharma business, which is not part of the transaction.

Recipharm CEO Thomas Eldered said: "I am pleased we have now finally completed this important acquisition.

"We are now in a position to offer our customers access to cost effective development and manufacturing capabilities able to serve international markets including the US."

In addition, the company’s synergistic business model will be strengthened by aligning Indian development and technology operations with the combined company’s manufacturing capabilities in India and Europe.

The acquired business is now known as Recipharm Pharmaservices, employs around 1,200 people and consists of development services, as well as commercial manufacturing of solid, semi-solid, liquid and topical products.

Commissioned in 2008, the solid dosage plant has approvals from the US FDA and EU.

The oral liquids production plant was commissioned in 2011 and is engaged in automated high-throughput large volume manufacturing primarily for the Indian subcontinent.