AACHEN, Germany and MEXICO CITY, Mexico, March 15, 2016 /PRNewswire/ --
- The German family-owned pharmaceutical company has entered into an agreement to
acquire Almirall's operations in Mexico
- This acquisition is a key element of Gruenenthal's strategy to strengthen the
company's footprint in Latin America
Gruenenthal Group announced today to have entered into a definitive agreement with Almirall Group under which Gruenenthal will acquire 100% of the share capital of Almirall de Mexico. The transaction also includes an agreement to perpetually license a portfolio of mainly international products with around 17.5 million Euro net sales in 2015 in Mexico. The transaction will be completed in early May, 2016.
A key element of Gruenenthal's strategy is to significantly expand the business in Latin America - focusing on the key markets Mexico and Brazil - over the next years through internal growth, partnering or acquisitions. With more than 50 years presence in the region, the company is committed to further expand its operations in Latin America.
With the acquisition of Almirall's operations in Mexico, Gruenenthal will bring together both companies' vast knowledge and experience in several therapeutic areas. It allows Gruenenthal to enter into the Gastroenterology segment and expand its Pain portfolio. Moreover, Gruenenthal will strengthen its position in the second largest market in Latin America, and its ability to address the needs of physicians and patients in the region.
"It is a clear part of our strategy to continuously invest and significantly expand our presence in Latin America," said Prof. Eric-Paul Paques, CEO Gruenenthal. "The acquisition of Almirall de Mexico is a very important step towards our objective and we are very excited about the joint potential of the two companies, which will allow us to be positioned amongst the top pharmaceutical companies in Mexico."
"Mexico is one of the top markets in Latin America, and we are very excited to be able to offer our customers and the patients soon a larger portfolio to help address their needs", said Oscar Ferenczi, Executive Vice President Gruenenthal Latin America. "We are looking forward to work closely with the team of Almirall de Mexico to ensure a quick and smooth integration. Gruenenthal's experience through the acquisition and successful integration of Laboratorios Andromaco S.A. just two years ago will be a solid basis to integrate all operations, portfolio and processes quickly and successfully into Gruenenthal."
The Gruenenthal Group is an independent, family-owned, international research-based pharmaceutical company headquartered in Aachen, Germany. We are an entrepreneurial specialist delivering true benefits to patients. By sustainably investing in research and development above the industrial average, we are committing to innovation in order to treat unmet medical needs and bring value-adding products to markets. Gruenenthal is a fully integrated research & development company with a long track record of bringing innovative pain treatments and state-of-the-art technologies to patients.
Altogether, the Gruenenthal Group is present in 32 countries with affiliates in Europe, Australia, Latin America and the US. Gruenenthal products are sold in more than 155 countries and approx. 5,300 employees are working for the Gruenenthal Group worldwide. In 2014, Gruenenthal achieved revenues of EUR 1.154 bn. More information: http://www.grunenthal.com.
Gruenenthal de Mexico was established in 1998 and currently has 250 employees focused on delivering high-quality products in Pain, Central Nervous System and Women's Health. The company has been awarded by Great Place to Work(R) Institute in Mexico in 2012, 2013, and in 2015, approximately 84% of its employees evaluated the organization as one the best companies to work for, confirming its continuous effort to make Gruenenthal Mexico an employer of choice.
Almirall is a global company based in Barcelona dedicated to providing valuable medicines and medical devices through its R&D, agreements and alliances. Their work covers the whole of the drug value chain. Founded in 1943, Almirall is listed on the Spanish Stock Exchange and it has become a source of value creation for society due to its vision and the commitment of its long-standing major shareholders. In 2015, its revenues totalled 769 million euros and, with 1.800 employees, it has gradually built up a trusted presence across Europe, as well as in the USA.
Gruenenthal Latin America
Head of Communication Latin America
Gruenenthal do Brasil Farmaceutica Ltda
Praca Joao Duran Alonso, 34
04571-070 Sao Paulo, Brazil
Headquarter Gruenenthal Group
Head Corporate Communications
Gruenenthal Pharma GmbH & Co. KG
Zieglerstrasse 6, 52099 Aachen, Germany
Grunenthal Pharma GmbH & Co. KG.