Recipharm of Sweden is acquiring a majority stake in Karnal-based, Nitin Lifesciences, a sterile injectable company for Rs 670 crore on a cash and debt free basis. Recipharm will join forces with the founding and managing owners, the Sobti family, in order to further grow the current business with demanding domestic and multinational customers into a leading position in the Indian sterile CDMO market. EY India acted as the sole M&A advisor to the deal.