Ethypharm, which is backed by PAI Partners, has agreed to acquire UK-based Martindale Pharma, a drug company that specializes in opioid addiction, emergency care and sterile injectables. No financial terms were disclosed.
SAINT-CLOUD, France and WOOBURN GREEN, England, January 19, 2017 /PRNewswire/ –Ethypharm is pleased to announce today that it has signed a definitive agreement to acquire Martindale Pharma.
Martindale Pharma is a leading UK-based specialty pharmaceutical company providing essential medicines to over 50 countries around the world.
The company specializes in the field of opioid addiction, emergency care and sterile injectables.
By joining forces with Martindale Pharma, Ethypharm reinforces its presence in the UK. The combined group will also benefit from a broader geographical reach and strengthen its manufacturing capabilities including solid dose, injectables and oral liquids. The combination of the two companies will create a group with revenues of more than €300 million and a solid platform for future growth.
Michael Harris, CEO of Martindale Pharma and future Chief Operating Officer of Ethypharm, said: “The combination of Ethypharm and Martindale enables us to create a leading company in the fields of emergency care, pain and addiction. It allows us to take our products into many other markets helping patients around the world get access to better medicines.”
Hugues Lecat, CEO of Ethypharm, added: “I am delighted to welcome the Martindale Pharma team within Ethypharm. The combined group will benefit from Martindale’s expertise and talents to accelerate its international growth.”
Ethypharm is an independent pharmaceutical company with global reach. It is dedicated to developing innovative drugs to treat pain and addiction, two major therapeutic areas with large unmet medical needs. Ethypharm also develops complex generics that contribute towards optimization of healthcare costs. Ethypharm employs 950 people, mostly in France where its innovation center is based as well as two high quality manufacturing sites. Ethypharm drugs are currently marketed in 30 countries around the world.
Since July 2016, Ethypharm is held by funds advised by PAI Partners, a leading European private equity firm headquartered in France. PAI Partners manages over €8 billion of dedicated buyout funds and provides financial and strategic support to Ethypharm.
About Martindale Pharma
Martindale Pharma is a leading UK-based specialty pharmaceutical company providing essential medicines to over 50 countries around the world. Martindale Pharma’s strategy is to build leading positions in defined business segments where there is a high unmet medical need and a demand for improved product presentations. Martindale Pharma focuses on Opioid Addiction, Emergency Care and Hospital-initiated Medicines.
With a strong UK presence and expertise in marketing hospital and specialty medicines, Martindale Pharma is recognised as a strategic partner to the NHS and other healthcare providers, supplying over 100 licensed products, and has a track record of successful new specialty product launches.
The business also includes a rapidly growing international organisation currently centered on three geographical regions: Saudi Arabia and the Gulf Co-Operation Council territory, Australia and South East Asia and Northern Europe.