Galenica acquires Spanish JV Vifor Uriach and Grupo Uriach's primary care business

Swiss drugmaker Galenica (SIX: GALN) has acquired all the outstanding shares of Vifor Uriach Pharma SL, a joint venture with its Spanish partner Grupo Uriach established in 2009, as well as Grupo Uriach's primary care business. Financial terms of the transaction, which became effective November 14, have not been disclosed.

This will improve the ability of Galenica to commercialize the intravenous iron products Ferinject and Venofer as well as several in-licensed products such as Palladone from Mundipharma. The acquisition is a further example of the strategy of Galenica to build a strong presence in key European markets and will provide Vifor Pharma with additional sales capability to hospitals and medical practices in Spain, the Swiis firm says.

Galenica will rename the company as Vifor Pharma Espana SL. The Spanish venture of Galenica incorporates Vifor Uriach Pharma SL and Grupo Uriach's primary care business (dealing with medical practices) including their medical, marketing and sales organisation. The company is based in Barcelona and will help capitalize on the full market potential of Ferinject by offering the product to a broader group of physicians and patients.