STADA finalizes acquisition of Crinos
05/17/2002 . Press Release
STADA Arzneimittel AG today acquired the Marketing and Sales Operations of the Italian pharmaceutical company Crinos Spa. as set out in the Letter of Intent signed March 19, 2002. STADA takes over the marketing and sales operations, drug approvals as well as all trademarks. The acquired sales volume is approx. EUR 22 million. Research and development, all patents rights as well as production will continue with the current ownership. Under the agreement, STADA secured the option to assure the future supply of Crinos products from the current owners on a manufacturing contract basis.
Crinos sells 23 branded pharmaceutical products in Italy for various types of indications. Two of the products have patent protection for several years, including up to 2007 for Crinos‘ largest product Prociclide® (active ingredient: Defibrotide), an antithrombotic and vasoprotective product with sales of over EUR 7.5 million. Crinos will continue to operate independently of STADA‘s Italian subsidiary EG Spa. and will promote its branded products directly to physicians via its own national sales force.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506