Jordan-based MS Pharma has agreed to acquire European pharmaceutical firm, Genepharm, for an undisclosed sum.
Based in Athens of Greece, Genepharm is involved in the development, manufacturing and out-licensing of high-value generic pharmaceutical products.
The company, which owns a wide portfolio of products, has a network of more than 223 customers across 70 countries globally.
MS Pharma chairman Ghiath Sukhtian said: “This acquisition is highly complementary and synergistic to our business, and marks an important milestone in our growth plans. Genepharm’s management team has built a successful business, and we look forward to supporting them in growing the Genepharm business.”
Genepharm is said to combine advanced R&D capabilities with manufacturing capacity in conventional solids, sterile liquid (oncology) and oncology oral solids.
The acquisition of Genepharm will help MS Pharma to expand its geographic footprint, in addition to serving more patients and customers in Europe.
MS Pharma’s existing chronic disease portfolio will be expanded with the addition of Genepharm’s products related to cardiovascular, CNS and oncology.
The deal will allow Genepharm to access MS Pharma’s manufacturing facilities and products portfolio.
Genepharm’s portfolio will also be expanded with the addition of sterile injectable products and biotechnology candidates. The plans are also underway to increase the development resources in Athens.
As per terms of the deal, the senior management team of Genepharm will continue to serve the company to expand the business activities.
The deal is expected to be completed by the end of this month, said MS Pharma.
In a statement, Genepharm said: “We are excited to be entering into a new phase of growth with MS Pharma. This acquisition will help accelerate Genepharm’s growth plans and will enable the company to offer a wider range of products to its partners and customers.”
MS Pharma is a major pharmaceutical and healthcare solutions provider, which operates across the Middle East, North Africa and Turkey.
With more than 2000 employees, the company conducts operations in 12 countries and exports its products to over 20 countries. It operates manufacturing facilities in Algeria, Jordan, Saudi Arabia and Turkey.