Italy's Menarini takes giant step into Asia-Pacific, with acquisition of Invida

Italy’s leading independent drugmaker Menarini says it has acquired the Singapore-based Invida Group, significantly expanding its presence in the markets of Singapore, Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, South Korea, Taiwan, Thailand, The Philippines and Vietnam. Financial terms of the transaction are not disclosed.

Invida, which just this week acquired a portfolio of products from Shalaks for marketing in India (The Pharma Letter November 15), is one of the leading biopharmaceutical sales companies currently operating in the Asia-Pacific region, an area which represents 10% of the world's pharmaceutical market with a 20% annual growth rate. Invida was formed in 2006 by Quintiles, the Zuellig Group and TLS Beta Pte, an Asia investment company.

With annual revenues exceeding $220 million, 3,600 employees and a consolidated presence in important therapeutic areas, Menarini sees Invida as the ideal company to act as gateway to many of the most significant emerging countries with the world's highest growth rates. For its part, Menarini had sales of $4.13 billion last year and 12,890 employees