Valeant buys PharmaSwiss for CEE generics market
Switzerland-headquartered PharmaSwiss distributes generic and over-the-counter (OTC) products throughout central and Easter Europe, with operations in rapidly expanding markets like Poland, Hungary, Greece, the Czech Republic and Serbia.
The firm owns a secondary packaging facility in Belgrade, which obtained European Union good manufacturing practices (GMP) approval in 2007, and is currently building a solid dosage form production plant in the city.
This market presence was a key driver for the deal according to Valeant CEO J Michael Pearson, who said: “PharmaSwiss solidifies our position as a leading pharmaceutical company in Central and Eastern Europe.”
Pearson also praised PharmaSwiss’ “branded generics” partnering strategy that has seen it work with the likes of Pfizer, Amgen, Lilly and Bristol-Myers Squibb.
