Tax Strategy

BW CDMO Topco Uk Limited (trading as Meribel Pharma Solutions) (the “Company”)

The Company and its subsidiaries are the “Group”

 U.K. TAX STRATEGY 

Introduction 

The Group operates with more than 2,000 FTE’s across five countries. 

Founded in 2024 following the merger between Synerlab and seven former Recipharm sites, Meribel Pharma Solutions is a new, European mid-size CDMO with a rich history of expertise.

We have broad capabilities, with an integrated network across Europe that delivers comprehensive support for the development and manufacturing of oral solid dose, liquid, semi-solid and lyophilised drug products.

Our expertise extends across the spectrum of pharmaceutical development and manufacturing, with particular specialisation and deep knowledge in API lyophilisation, sachets and stick packs, and sterile multidose.

No matter the challenge, our dedicated sites and passionate team are here to help you through every step of your journey with agility and proactivity. From formulation to packaging, we ensure a seamless experience at every stage.

This document sets out the Group’s approach with respect to its U.K. tax affairs. The Group considers that the publication of this statement complies with the requirements set out in Schedule 19 FA 2016. 

Risk management & governance 

The Group engages with an experienced and dedicated team of tax professionals that collaborate with internal stakeholders to provide advice and guidance necessary to ensure compliance with relevant tax legislation and/or tax authority guidance. 

The Head of Tax is based in the UK and reports to the CFO. Where necessary, a matter will be escalated to executive management and, if appropriate, the Board of Directors of the Company (“Board”), who have ultimate responsibility for the governance and risk management of the Group. The Group will obtain external advice from reputable and experienced professionals if necessary. Diligent professional care and judgement is employed to assess tax risk, to arrive at well-reasoned conclusions concerning how risk should be managed. Decisions concerning risk will be made in a manner that is consistent with the Group’s interpretation of relevant tax legislation and/or tax authority guidance. Compliance with relevant tax legislation and/or tax authority guidance is part of the Group’s overall strategy and is considered when making business decisions. 

Attitude to tax risk 

The level of risk that the Group accepts in relation to U.K. taxation is consistent with the risk tolerance applied in the conduct of other aspects of its business. 

The Group seeks to comply with all relevant tax legislation and/or tax authority guidance and to act in a manner that upholds its reputation as a responsible corporate citizen and considers applicable corporate, regulatory and other legal statutes and fiduciary duties of directors and employees. In relation to any specific matter or transaction, the Group will identify whether a tax risk exists that needs to be addressed, determines what action(s) should be taken to address the risk and ensures that steps are taken to address the risk. Where necessary, a matter will be escalated to executive management and, if appropriate, the Board. 

Approach to tax planning 

The Group believes that it has an obligation to pay the amount of tax that it believes is due to each tax authority when it falls due. The Group will consider planning to reduce risk and/or an amount of tax that may otherwise be due if such planning is consistent with the transaction’s commercial and economic objectives. Where appropriate the Group will structure its affairs in a manner that is consistent with its commercial and economic objectives and that may allow access, based on its interpretation of relevant tax legislation and/or tax authority guidance, to incentives, exemptions and/or deductions available pursuant to relevant tax legislation. 

Relationship with tax authorities 

The Group is committed to the principles of openness and transparency in its approach to dealing with all applicable authorities, including with all applicable tax authorities. The Group intends that any interaction with a tax authority and other relevant authority will be conducted in a collaborative, courteous and timely manner and with an objective to resolve disputed matters on a timely basis.