Recordati acquires French OTC firm Tonipharm
In what was a busy week for the Italian drugmaker, Recordati (RECI: MI) reached an agreement for the acquisition of 100% of the share capital of Tonipharm, a French company based in Boulogne-Billancourt near Paris, active mainly in the self-medication market with over-the-counter (OTC) products.
The company is expected to realize sales of around 26.5 million euros ($30.3 million) in 2018. The closing of the transaction, financial terms of which are not disclosed, is planned to take place at year-end, said Recordati, whose shares gained 2.19% to 30.30 euros following the announcement on Friday.
Tonipharm was established in 1991 and promotes a wide portfolio of self-medication products together with some prescription drugs. The company’s sales are generated mainly by the line of products sold under the umbrella brand Ginkor, OTC treatments based on ginko biloba which are very well known on the French market. The company also promotes Alodont, a line of products used for oral hygiene.
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