The acquisition provides Esteve with greater pharmaceutical presence in Europe's main markets and a portfolio of proprietary specialty products for hospital use.
ESTEVE announced that they have come to an agreement to acquire all the shares of the German pharmaceutical company Riemser from Ardian, a world-leading private investment house.
Headquartered in Berlin, Riemser has a diversified portfolio of products with the 3 main therapeutic areas being: oncology, neurology and niche therapies. Riemser operates a pharmaceutical manufacturing plant in Germany and has direct geographical presence in four of Europe's five major countries: Germany, United Kingdom, France, and Spain. Over 80% of sales come from the hospital channel, providing specialty treatments and a wide range of pharmaceuticals in therapeutic niche areas.
ESTEVE's purchase of Riemser will accelerate its transformation into a specialty pharma company with more than 60% of its sales coming from proprietary products; it will also give ESTEVE access to a high-growth sector – the hospital market.
Staffan Schüberg, CEO of ESTEVE, said: "This acquisition is a meaningful contribution to our strategic path towards making Esteve much more of an international proprietary, specialty pharma company. Riemser contributes both knowledge and experience in the European hospital market, in addition to pharmaceutical activity in four of the major European markets - Germany, United Kingdom, France and Spain. Riemser's presence and facilities in these geographically important markets provide a significant growth potential for Esteve and we will, as a combined entity with Riemser, continue our quest for further expansion."
Founded in 1992, Riemser was acquired in 2012 by Ardian with the goal to focus the company's activities on its core specialty pharma business and expand the company internationally. Under the ownership of Ardian, Riemser has enjoyed impressive international growth through acquisitions, first in France, then in the UK and more recently in Spain, and it has strengthened its portfolio of specialty products by purchasing several products from large multinational pharmaceutical firms.
Konstantin von Alvensleben, CEO of Riemser, said: "We are very proud that with Esteve, a strong family-owned pharma company with a long tradition has chosen to acquire Riemser. Together we will build on our strengths and leverage our profile as a European specialty pharma company with proprietary products and hospital focus to further increase our international reach and expand our business. At the same time, we want to thank Ardian for their support over the past years."
The acquisition is expected to be completed within Q1 2020. The parties have agreed not to disclose any details of the transaction.
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