NEWS IN BRIEF
MS Pharma acquires Genepharm, expands chronic disease portfolio
Genepharm develops, manufactures and out-licenses generic pharmaceutical products, focusing on conventional solids, sterile liquid and oncology oral solids, for a client base across 70 countries.
MS Pharma, which operates across the Middle East, Turkey and Africa, will acquire 100% of Genepharm’s shares, while it also announced plans to ‘significantly increase’ Genepharm’s development resources in Athens.
According to MS Pharma, through the acquisition the company aims to expand its geographic footprint and reach more customers in Europe.
In addition, MS Pharma intends to bolster its portfolio with cardiovascular, CNS and oncology products, while it stated that Genepharm's portfolio will be strengthened with sterile injectable products and biotechnology candidates.
According to the agreement, Genepharm’s management will remain with the business. The transaction is expected to close by the end of April 2019. The cost of MS Pharma’s investment was not disclosed.
MS Pharma employs over 2,000 people in its facilities in Algeria, Jordan, Saudi Arabia and Turkey and exports to over 20 countries.