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.
Sanofi is dedicated to supporting people through their health challenges. We are a global biopharmaceutical company focused on human health. We prevent illness with vaccines, provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions.
With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.
Sanofi, Empowering Life
Sanofi Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Sanofi's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the fact that product candidates if approved may not be commercially successful, the future approval and commercial success of therapeutic alternatives, Sanofi's ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that COVID-19 will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. Any material effect of COVID-19 on any of the foregoing could also adversely impact us. This situation is changing rapidly and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December 31, 2020. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.