German generics giant Stada Arzneimittel announced on 9 November 2011 that it had signed a deal to buy Switzerland-based Spirig Pharma’s generics business for approximately Euros 78 million.
Stada to buy Spirig’s generics business
Generics/News
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Posted 18/11/2011
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Spirig is a privately owned Pharma company specialising in dermatology products and in Switzerland they have gained a leading position in the market for generic products.
The Stada deal does not include any production facilities, but includes 56 prescription and 15 non-prescription and discretionary prescription products, and will allow Stada to continue marketing the generic drugs it acquires under the Spirig brand. The products are estimated to have current annual sales of approximately Euros 34 million.
Stada expects the acquisition to be completed in the first quarter of 2012.
This is not the first deal Stada has been involved in lately. In August 2011, the company announced a deal with Hungary-based Gideon Richter to collaborate on biosimilar development of monoclonal antibodies [1].
Reference
1. GaBI Online - Generics and Biosimilars Initiative. Stada and Richter to collaborate on biosimilar development [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2011 November 15]. Available from: www.gabionline.net/Biosimilars/News/Stada-and-Richter-to-collaborate-on-biosimilar-development
Source: Stada
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