Recordati Acquires The Swiss Pharmaceutical Company Pro Farma
Friday, July 15, 2016
Recordati announces the acquisition of 100% of the share capital of Pro Farma AG, a Swiss pharmaceutical company with headquarters in Zug. The value of the transaction (enterprise value) is of CHF 16 million and will be funded from existing liquidity. The signing and closing of the transaction took place at the same time.
Pro Farma, with expected 2016 revenues of around CHF 10 million, markets proprietary and in-licensed specialties in selected therapeutic areas which include both prescription and OTC drugs. The main brands are Lacdigest (tilactase), Tretinac (isotretinoin) and Urocit (potassium citrate). Furthermore, the company offers distribution and promotion services to other pharmaceutical companies.
“The acquisition of Pro Farma represents an excellent base on which to develop our operations in Switzerland where Recordati has recently started to sell its product Livazo (pitavastatin) directly to the market” declared Giovanni Recordati, Chairman and CEO. “Furthermore, the main product Lacdigest will contribute to the enhancement of our presence in gastroenterology.”
Source : recordati.com
