Valeant buys PharmaSwiss for CEE generics market

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Canada’s Valeant Pharmaceuticals will pay €350m for PharmaSwiss to expand its presences in the central and eastern European generic drug 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.

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