Italy's Alfa Wassermann and Sigma-Tau to merge

Alfa Wassermann and Sigma-Tau, two important Italian pharmaceutical groups, with strong international presence, have signed an agreement to create a new company where each of them will contribute its pharmaceutical business.

This industrial partnership will not include Sigma-Tau rare disease business and some financial stakes owned in the international pharma and rare disease businesses that will continue to be held by the Cavazza family, founders of the company. The transaction is expected to close by the end of April.

The majority shareholding (75%) of the new company will be held by the Golinelli family, which founded and controls Alfa Wassermann. Some members of the Cavazza family will hold a 20% stake while Intesa Sanpaolo, a former shareholder of Sigma-Tau, will retain its current 5% stake.