Grünenthal Group has entered into a definitive agreement with Almirall Group under which Grünenthal will acquire 100% of the share capital of Almirall de Mexico. The transaction also includes an agreement to perpetually license a portfolio of mainly international products with around 17.5 million Euro net sales in 2015 in Mexico. The transaction will be completed in early May, 2016.
A key element of Grünenthal's strategy is to significantly expand the business in Latin America - focusing on the key markets Mexicoand Brazil - over the next years through internal growth, partnering or acquisitions. With more than 50 years presence in the region, the company is committed to further expand its operations in Latin America.
With the acquisition of Almirall's operations in Mexico, Grünenthal will bring together both companies' vast knowledge and experience in several therapeutic areas. It allows Grünenthal to enter into the Gastroenterology segment and expand its Pain portfolio. Moreover, Grünenthal will strengthen its position in the second largest market in Latin America, and its ability to address the needs of physicians and patients in the region.
"It is a clear part of our strategy to continuously invest and significantly expand our presence in Latin America," said Prof. Eric-Paul Pâques, CEO Grünenthal. "The acquisition of Almirall de Mexico is a very important step towards our objective and we are very excited about the joint potential of the two companies, which will allow us to be positioned amongst the top pharmaceutical companies in Mexico."
"Mexico is one of the top markets in Latin America, and we are very excited to be able to offer our customers and the patients soon a larger portfolio to help address their needs", said Oscar Ferenczi, Executive Vice President Grünenthal Latin America. "We are looking forward to work closely with the team of Almirall de Mexico to ensure a quick and smooth integration. Grünenthal's experience through the acquisition and successful integration of Laboratorios Andrómaco S.A. just two years ago will be a solid basis to integrate all operations, portfolio and processes quickly and successfully into Grünenthal."