MS Pharma to Acquire Genepharm
Jordan-based drugmaker MS Pharma has agreed to buy Genepharm, a Greek generic pharma manufacturer, for an undisclosed sum. The acquisition is expected to complete before the end of April.
“This acquisition is highly complementary and synergistic to our business and marks an important milestone in our growth plans,” commented MS Pharma chairman Ghiath Sukhtian. “We believe this acquisition will enable Genepharm to offer a wider range of products and technologies to its customers in Europe and around the world.”
Based in Athens, Genepharm develops, manufactures and licenses high-value generic drugs with a sales network of 223 customers stretching across 70 countries. The company has three manufacturing facilities in the Greek capital: one for conventional solids; one for oncology sterile liquid dosage forms; and one for oncology oral solid dosage forms.
As well as extending its geographic footprint, Genepharm’s product range will complement MS Pharma’s existing chronic disease portfolio, adding several products in the cardiovascular, central nervous system and oncology areas.
The takeover will give Genepharm access to MS Pharma’s manufacturing facilities and add sterile injectable products and biotechnology candidates to its product offering.
MS Pharma added that plans are in place to “significantly” expand development resources at its Athens site.
