Italy-based P&R Group has signed a binding agreement to acquire 100% of the Italian pharmaceutical chemical manufacturer, Infa Group through the P&R subsidiary Olon SpA.
Olon has five manufacturing sites in northern Italy with more than 800 employees while INFA Group, with more than 400 employees, has two manufacturing sites in Italy, Labochim and Sifavitor and one in Spain, Derivados Quimicos. The combined sales turnover will exceed 300 million euros ($335 million) with an extensive product and technology portfolio.
Olon is one of the largest European developers and manufacturers supplying active pharmaceutical ingredients (APIs) for the pharmaceutical industry worldwide both, for generic as well as for contract manufacturing. Olon and Infa will have available about 130 active US Drug Master Files (DMFs) and more than 50 EU Certificates of Suitability (COS) or Compliance with the European Pharmacopoeia (CEP).
The transaction, financial terms of which are not disclosed, will be completed after clearance is received from the Antitrust Authority which is expected in 30-45 days.
The chief executives commented that “the merger of Olon and Infa will result in the creation of one of the most important European groups for research and manufacturing of Active Pharmaceutical Ingredients” and “we appreciate INFA’s excellent results and are convinced and excited that the merge of these two successful entities will begin a new phase for the development and growth of the company as well as offering extremely broad range of capabilities to both the generic API and contract manufacturing customers.”
“The acquisition of Infa will provide an established custom synthesis presence with customers worldwide and will strengthen our Generic position by adding a large amount of products positioning Olon as one of the largest player in Europe,” said Olon CEO Paolo Tubertini.
Source: The Pharma Letter
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