Australia's Sigma and Arrow agree merger

Published: 20-Sep-2005

Australian pharmaceutical manufacturer Sigma Company is to takeover Arrow Pharmaceuticals, which retails prescription and generics drugs and medications in Australia to medical professionals and pharmacy stores. The merged company, Sigma Pharmaceuticals, will become a A$ 2.2bn (Euro 1.4bn) integrated health-care business with access to the fast-growing generic drug market.


Australian pharmaceutical manufacturer Sigma Company is to takeover Arrow Pharmaceuticals, which retails prescription and generics drugs and medications in Australia to medical professionals and pharmacy stores. The merged company, Sigma Pharmaceuticals, will become a A$ 2.2bn (Euro 1.4bn) integrated health-care business with access to the fast-growing generic drug market.

Its ceo will be Sigma's existing chief executive, Elmo de Alwis. In an interview he said: 'Entry into the high-growth generics market which is believed to be worth about A$700m (€443m) annually could grow to A$1.7bn (€1.07bn) by 2010 when about 50 drugs come off patent.'

The company has forecast sales of A$2.4bn in the 2006 financial year, with pharmaceuticals accounting for 70%.

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