Pharmathen changes direction, selling its Greek commercial operations

In a bid to change direction, formerly Greece-based Pharmathen is now shedding its shedding its business in that country.

Now based in the Netherlands, Pharmathen, a BC Partners portfolio company, has announced the sale of its Greek commercial operations as part of its long-term strategy to become a leader focused on the development of innovative and complex pharmaceuticals.

The Greek operations will be carved out and acquired by a consortium of investors, led by Pericles and Petros Vassilopoulos, and the existing local management team in Greece. Pharmathen will retain its name and the sold operations will be subsequently re-branded.