Nycomed announced that it is expanding its presence in Latin America through the acquisition of Laboratorios Farmacol S.A., a Colombia based pharmaceutical company, which has a strong presence in the areas of gastroenterology, respiratory and gynaecology. Farmacol, founded in 1969, has developed and launched a number of products such as Espasmobil® (anti-spasmodic) and Vasoton® (anti-varicose treatment), which have contributed to building a strong and sustainable business in Colombia. Included among the ten leading local Colombian pharmaceutical companies, Farmacol has a sizeable marketing and sales organization, and its production facility with a focus on liquids, solids, semi-solids and effervescent products, has been GMP (good manufacturing practice) audited and received all approvals from the Colombian authorities (Instituto Nacional de Vigilancia de Medicamentos y Alimentos, INVIMA).
Nycomed believes that this transaction will greatly support the company’s strategy for further growth in the country and region through the launch of its own products like Omnaris® (ciclesonide) and Daxas® (roflumilast) as well as regional brands like Alevian Duo® (Pinaverium bromide, Dimeticone) and Tecta® (Pantoprazole magnesium) in the respiratory and gastroenterology area, respectively. The transaction is subject to regulatory approval and closing is expected in the second quarter of 2011. Further details were not disclosed.
Norbert Oppitz, Senior Vice President, Latin America, at Nycomed, said: “This deal clearly demonstrates the importance of Latin America as a key region in Nycomed’s emerging market strategy. Farmacol will give Nycomed access to one of the fastest growing pharmaceutical markets in Latin America. This strategic move will accelerate our expansion in the entire region.”
Nycomed is a privately owned global pharmaceutical company with a differentiated portfolio focused on branded medicines in gastroenterology, respiratory and inflammatory diseases, pain, osteoporosis and tissue management. An extensive range of OTC products completes the portfolio.
Its R&D is structured around partnerships and in-licensing is a cornerstone of the company’s growth strategy.
Nycomed employs 12,000 associates worldwide, and its products are available in more than 100 countries. It has strong platforms in Europe and in fast-growing markets such as Russia/CIS and Latin America. While the US and Japan are commercialised through best-in-class partners, Nycomed plans to further strengthen its own position in key Asian markets.
Headquartered in Zurich, Switzerland, the company generated total sales of €3.2 billion in 2009 and an adjusted EBITDA of €1.1 billion.