Thornton & Ross, the UK subsidiary of German generic and branded drugmaker Stada Arzneimittel (SAZ: GR), has purchased the production and distribution rights for the Flexitolbrand product portfolio in the UK and Ireland.
The net purchase price for the rights to the Flexitol product range is £10 million ($17 million) payable in cash subject to adjustments for inventory. The seller is the LaCorium group of companies based in Sydney, Australia. The purchase does not include any production facilities. In order to optimize cost of sales, it is planned to transfer the production of nearly all of the products sold in UK and Ireland to Thornton & Ross’ in house manufacturing facilities.
Products generated sales of around £3.3million
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