Almirall Prodesfarma acquires Prasfarma.

With an investment of 2,246 million pesetas (13.5 million Euros), Almirall Prodesfarma has acquired the total of Prasfarma shares with the aim of strengthening its hospital presence.

Almirall Prodesfarma, the leading Spanish multinational pharmaceutical company, announces that it has acquired the total of Prasfarma shares. Up to now, rights of ownership were divided 50% between Asta Medica and Almirall Prodesfarma. Prasfarma capital now belongs completely to Almirall Prodesfarma.

This acquisition has a significant bearing on the Spanish pharmaceutical industry. Prasfarma, which markets oncology and hospital products, was created in 1991 as a joint venture between Prodesfarma and Asta Médica. Later on, in 1997, as a result of the merger between Almirall and Prodesfarma, Almirall Prodesfarma became the successor to Prasfarma’s participation.

Almirall Prodesfarma has invested 2,246 million pesetas (13.5 million Euros) in this project . “Our intention with this acquisition is to reinforce Almirall Prodesfarma’s hospital presence in order to consolidate our market position”, explained doctor Jorge Gallardo, president and chief executive officer of Almirall Prodesfarma. Prasfarma Prasfarma, which from now on belongs totally to Almirall Prodesfarma, is a company specialising in the commercialisation of oncology and hospital products.

In 2000 Prasfarma’s turnover from the commercialisation of its 16 oncology products totalled 4,293 million pesetas (26 million Euros), with an expected increase of 9.5% for this year (410 million pesetas) (2.46 million Euros). Hospital Division Almirall Prodesfarma´s Hospital Division achieved a turnover of 1,049 million pesetas (6.30 million Euros) last year with the commercialistation of its 9 products.

The creating of this new company dedicated solely to hospital products anticipates a turnover of over 6,000 million pesetas (36 million Euros). Almirall Prodesfarma Almirall Prodesfarma, S.A. intends to devote over 50,000 million pesetas (more than 300 million Euros) to R+D over the next five years and its forecast for this year is over 9,500 million pesetas (around 57 million Euros). It currently employs around 2,200 people, of whom over 300 work in R+D. It has five production plants located within the province of Barcelona, as well as delegations in Spain´s principal cities and affiliates in Europe and Latin America.

It has an annual production of 75 million units and its own R+D products are present in over 80 countries worldwide. The company´s main research fields are in areas related with the treatment of asthma, allergies, dermatitis, arthritis, cardiovascular conditions, gastrointestinal disorders, migraines and sexual dysfunctions.

During the 2000 financial year, sales of products in Spain and internationally (affiliates, partnerships, licensees, etc) exceeded 100,000 million pesetas (600 million Euros).

Link: http://www.prasfarma.es/