The Spanish company has announced an expansion across Europe starting with the acquisition of Czech Republic-based Farmax
Neuraxpharm has reinforced its CNS treatment presence in the Czech Republic, Slovakia and Hungary. The company has acquired Farmax, a similarly-focused company in sales and marketing in the Czech Republic.
Farmax was the commercial division of SVUS Pharma, with a strong distribution network in the Czech Republic and Slovakia, as well as a small presence in Hungary. They distributed both branded and non-branded generic pharmaceuticals for CNS disorders, such as Zolpinox.
Farmax has been renamed Neuraxpharm Bohemia and will now commercialise its products under the Neuraxpharm brand. The acquisition will leverage the company’s Central and Eastern European (CEE) presence to support Neuraxpharm’s activities.
Commenting on the acquisition Dr. Jörg Thomas Dierks, Neuraxpharm CEO, said it will: “provide us direct access to the CEE markets with our own sales force. Entering the CEE region is one of the pillars of the Neuraxpharm strategy as these markets offer an attractive growth potential.”
The terms of the transaction have not been disclosed.