The amount of the deal was not disclosed. Following the close, expected by the end of April, Genepharm’s senior management will remain with the business and guide the company through the next phase of its growth.
– will expand MS Pharma’s geographic presence,
– will allow it to reach more patients and customers in Europe and the rest of the world,
– will complement its existing chronic disease portfolio with the addition of several important products in cardiovascular, CNS and oncology.
Founded in 1967, Genepharm develops, manufactures and out-licenses high-value generic pharmaceutical products. The company retains a strong portfolio of products and an extensive network of over 223 customers across 70 countries worldwide. It combines R&D capabilities with manufacturing capacity in conventional solids, sterile liquid (oncology) and oncology oral solids.
Genepharm will access MS Pharma’s manufacturing facilities and products portfolio and will be part of a group employing over 2000 employees. Its portfolio will be strengthened with sterile injectable products and biotechnology candidates and plans are in place to increase the development resources in Athens.
Led by Mr Ghiath Sukhtian, Chairman, MS Pharma is a pharmaceutical and healthcare solutions provider with a presence in 12 countries and exports to over 20 countries across the Middle East, Africa and Europe.
The company, which has the capability to manufacture branded generics in oral, topical and injectable form, has manufacturing facilities in Algeria, Jordan, Saudi Arabia and Turkey.