ratiopharm takes over Dutch generics specialist Magnafarma
Leading European generics company rationpharm, of Ulm in Germany, has acquired Zaandam-based Magnafarma, one of the largest generics suppliers in the Netherlands.
Leading European generics company rationpharm, of Ulm in Germany, has acquired Zaandam-based Magnafarma, one of the largest generics suppliers in the Netherlands.
The acquisition will enable ratiopharm to build a strong presence in the Dutch generics market and the integration of their assets is expected to improve the competitiveness of both companies.
The Dutch generics market is the third largest in Europe, behind Germany and the UK, and the move will enable ratiopharm to expand its international activities. 'With this purchase ratiopharm extends its activities to a very attractive European market, in which it has not been active before,' said Dr. Claudio Albrecht, ceo of ratiopharm. 'For Magnafarma this step means that it can benefit from the power of an international group to achieve its ambitious goals in the Dutch market faster.'
Erick Magis, general manager of Magnafarma, believes there are good synergies between the two companies. 'ratiopharm's worldwide licensing network and its strong development pipeline will enable Magnafarma to obtain important new registrations. This will enable us to introduce new products to the Dutch market more rapidly and more cost-effectively, giving Magnafarma a decisive edge over the competition.'
Magnafarma has specialised in the production and marketing of high quality generic drugs, which are marketed under the Genfarma and HPS labels. With gross sales of €102m in 2003 the company is currently third in the Dutch generics market. ratiopharm is the largest generics company in Europe and the top-selling and most commonly prescribed brand in Germany. The company is active in 23 countries, and with more than 900 registered preparations, it has one of the broadest ranges in the generics business, covering almost all therapeutic areas.