Almirall to grow dermatology portfolio with acquisition of Poli Group
In another acquisition move, Spain’s largest pharma company Almirall (ALM: MC) has signed an agreement to acquire 100% of the share capital of the Switzerland-headquartered Poli Group Holdings.
The holding company comprises three operating companies (Taurus Pharma GmbH, Polichem SA and Polichem Srl), and the transactions has an enterprise valuefor 365 million euros ($386.3 million). Almirall may pay additional 35 million euros in earn-outs once certain development milestones in the Poli Group are met.
With this strategic transaction, Almirall continues to execute on the plan to become a top global Dermatology player announced last year after the transfer agreement with AstraZeneca (LSE: AZN), which transferred rights to its proprietary respiratory franchise, including Eklira to AstraZeneca last year for around $875 million of initial consideration (The Pharma Letter November 3, 2014).
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