Acino grabs Cephalon’s Middle East and African business

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Acino grabs Cephalon’s Middle East and African business

Biosimilares/Novedades | Posted 25/11/2011 0 Post your comment

Switzerland-based generics company Acino Pharma announced on 14 October 2011 that it had agreed to buy biopharmaceutical company Cephalon ’s combined Middle East and African business in a transaction worth approximately Euros 80 million.

The business includes both Cephalon and Mepha—Cephalon’s generics unit—brands and is expected to generate sales of almost Euros 100 million in 2011. The product portfolio includes the analgesic Olfen (diclofenac), the antispasmotic drug Spasfon (phloroglucinol–trimethylphloroglucinol), the gastrointestinal drug Gasec (omeprazole) and the antibiotic Mesporin (ceftriaxone).

According to Acino the transaction enables it to make a quantum leap towards establishing its own presence in emerging markets. ‘Over the last 18 months, Acino’s management has refined its growth strategy to focus on three complementary business pillars: selling the products it develops through its partners in developed markets, establishing its own market presence under its Acino Switzerland brand in emerging markets and entering into development programs with innovative pharmaceutical companies based on its expertise in drug-delivery technology’ according to a press statement from Acino Pharma.

This is not the only deal that Cephalon is entering into recently. In May 2011, Cephalon entered into an agreement which will see Teva acquiring all outstanding shares of Cephalon for approximately US$6.8 billion [1]. The deal received approval from EU authorities and US regulators in early November 2011. The approval from the European Commission, however, is conditional upon Teva selling Cephalon’s generic version of its Provigil (modafinil) drug.

Reference

1. GaBI Online - Generics and Biosimilars Initiative. Teva grabs biopharmaceutical company Cephalon [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2011 November 25]. Available from: www.gabionline.net/Biosimilars/News/Teva-grabs-biopharmaceutical-company-Cephalon

Source: Acino