The operation confirms the pharmaceutical company's path to internationalisation and the plan to increase its range of therapeutic options by accessing different strategic sectors, thereby strengthening its presence on the prescription drug market.
ABANO TERME, Italy, March 23, 2021 /PRNewswire/ -- Fidia, a multinational pharmaceutical company and world leader in the research, development, production, and marketing of products mainly based on hyaluronic acid and its derivatives, has announced the conclusion of an agreement with Sanofi that involves the acquisition of an integrated portfolio of anti-inflammatory drugs.
Based on this recent operation, the company has strengthened its presence in the prescription drug market, in addition to further expanding its range of products and specialities, thus consolidating its leadership in the Joint Care area and bolstering its business in Dermatology.
The concluded agreement is the result of a selective competitive process launched in 2020, which led Sanofi to choose Fidia among the various participating companies. The agreement brings to light the company's ability to look to the future and be able to seize opportunities, even during the current global health emergency.
Upon completion of the operation, currently conditional on the green light being given by the Antitrust and government authorities for FDI purposes, Fidia will acquire the registrations, trademarks, and related commercial rights of seven products (Urbason: oral and injectable, Esperson, Topicorte, Flubason and Dermatop: topical; Surgam: oral and suppositories; Flebocortid: injectable) that are leading brands within their segments, and have recorded worldwide sales of over 40 million euros in 2019.
Specifically, the new offering includes four corticosteroids and one non-steroidal anti-inflammatory drug (NSAID) already widely used to treat a broad range of conditions in various therapeutic areas.
The brands included in the agreement will be marketed in Europe (with a particular focus on Italy), Brazil, Morocco, Tunisia, Turkey, Lebanon, Thailand, and the countries of sub-Saharan Africa.
"The acquisition - explains Carlo Pizzocaro, President and CEO of Fidia Farmaceutici - confirms our will, despite the tough challenge created by Covid-19, to continue investing in core pharmaceutical business as part of our international growth, not only thanks to consolidation in the areas in which we are leaders, but also through more solid positioning as a result of entering different therapeutic areas. Furthermore, the acquisition represents an opportunity to strengthen managerial resources, under the framework of a sustainable annual average growth: once again, a development model that is characterised by the ability to face the challenges and seize the opportunities of tomorrow, in the long-term, although the world's economies have been particularly battered."
"Established Products is an important growth driver for Sanofi, however, we are re-focusing our efforts as part of the company's overall strategic transformation in order to pioneer new opportunities that will drive strong health outcomes for the millions of lives we touch," commented Olivier Charmeil, Executive Vice President, General Medicines at Sanofi. "Upon completion of appropriate regulatory processes, today's agreement with Fidia Farmaceutici will ensure patients will have continued access to these seven brands, while also allowing for us to further optimize our operating model through our Play to Win strategy."
Chiomenti Studio Legale (team headed by Luca Liistro) acted as Fidia's Legal and Tax advisor on international basis.
About Fidia Farmaceutici
Italian multinational company, with R&D, manufacturing, marketing and sales capabilities, and an extensive product portfolio mainly based on hyaluronic acid (1,100 patents) in joint care, advanced wound care, ophthalmology, aesthetic and regenerative medicine. Manufacturing operations – located in Italy - are inspected and approved by major international health authorities, including the US FDA, and comply with the strictest international regulations and safety standards. Fidia extends its global reach through local partners in 100+ countries worldwide, as well as wholly-owned subsidiaries in USA, Germany, Austria, Spain, France, Russia, Czech Republic, Slovakia, Romania, Egypt and Middle East.
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