French drug developer Ethypharm acquires UK-based Martindale Pharma
Posted: 23 January 2017 | European Pharmaceutical Review | No comments yet
Ethypharm has signed a definitive agreement to acquire Martindale Pharma.
Martindale Pharma is a UK-based specialty pharmaceutical company providing essential medicines to over 50 countries around the world. They specialise in the field of opioid addiction, emergency care and sterile injectables.
By joining forces with Martindale Pharma, Ethypharm reinforces its presence in the UK. The combined group will also benefit from a broader geographical reach and strengthen its manufacturing capabilities including solid dose, injectables and oral liquids. The combination of the two companies will create a group with revenues of more than €300 million.
Ethypharm is an independent pharmaceutical company dedicated to developing innovative drugs to treat pain and addiction. The company employs 950 people, mostly in France where its innovation centre is based as well as two manufacturing sites.
Since July 2016, Ethypharm is held by funds advised by PAI Partners, a leading European private equity firm headquartered in France. PAI Partners manages over €8 billion of dedicated buyout funds and provides financial and strategic support to Ethypharm.
Michael Harris, CEO of Martindale Pharma and future Chief Operating Officer of Ethypharm, said, “The combination of Ethypharm and Martindale enables us to create a leading company in the fields of emergency care, pain and addiction. It allows us to take our products into many other markets helping patients around the world get access to better medicines.”
Martindale Pharma is a leading UK-based pharmaceutical company providing essential medicines to over 50 countries around the world and focuses on opioid addiction, emergency care and hospital-initiated medicines.
Martindale Pharma is already partnered to the NHS and other healthcare providers, supplying over 100 licensed products, and has a track record of successful new specialty product launches.
The business also includes a rapidly growing international organisation currently centred on three geographical regions: Saudi Arabia and the Gulf Co-Operation Council territory, Australia and South East Asia and Northern Europe.
Hugues Lecat, CEO of Ethypharm, added: “I am delighted to welcome the Martindale Pharma team within Ethypharm. The combined group will benefit from Martindale’s expertise and talents to accelerate its international growth.”
