19 Jul 2016
Swiss firm Pro Farma acquisition
Italian pharmaceutical group Recordati has acquired up two European pharmaceutical companies in just over six weeks, bolstering its presence in both its homeland and Switzerland.
The firm sealed a deal with independent family-owned Swiss firm Pro Farma last week that was valued at CHF 16m and will add to its portfolio the acne treatment Tretinac (isotretinoin) and kidney stone therapy Urocit (potassium citrate).
Recordati’s burgeoning gastroenterology pipeline will also receive a boost from the transaction thanks to the addition of lactose intolerance drug Lacdigest (tilactase). The Italian firm has already launched its own oral treatment for disorders of lipoprotein metabolism, Livazo (pitavastatin), on the Swiss market, having been approved for use in adults by the European Commission earlier this year. That acceptance was conditional, however, on an investigation into the long-term effects of the drug on children between 6 and 18 years of age – including safety concerns.
Italchimici acquisition in Italy
Recordati finalised a €130m deal to buy Italian firm Itachimici at the end of May. That acquisition bolstered the firm’s growing gastroenterology pipeline. The acquisition of Italchimici represents an excellent opportunity to accelerate growth in Italian market, with an interesting portfolio of well-known products that have significant market shares.