Recordati buys Swiss drugmaker Pro Farma
In a second M&A deal in a matter of six weeks, Italian drugmaker Recordati (RECI: MI) has announced the acquisition of 100% of the share capital of Pro Farma AG, a Swiss pharmaceutical company with headquarters in Zug.
The value of the transaction (enterprise value) is of 16 million Swiss francs ($16.31 million) and will be funded from existing liquidity. The signing and closing of the transaction took place at the same time.
Pro Farma, with expected 2016 revenues of around 10 million euros, markets proprietary and in-licensed specialties in selected therapeutic areas which include both prescription and over-the-counter (OTC) drugs. The main brands are Lacdigest (tilactase), Tretinac (isotretinoin) and Urocit (potassium citrate). Furthermore, the company offers distribution and promotion services to other pharmaceutical companies.
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