STADA acquires Portuguese Generics supplier Ciclum
04/11/2005 . Ad hoc Release
STADA Arzneimittel AG concluded today, April 11, 2005, the agreement on the purchase of 100% of the shares in the Portuguese generics supplier Ciclum Farma, Unipessoal LDA, Amadora, from a Swiss financial investor. The purchase price will amount to approx. EUR 31 million. The agreement will take effect subject to the usual contract implementation provisions as well as approval of the anti-trust authorities.
Ciclum currently ranks as number 6 in the Portuguese generics market and achieved sales of approx. EUR 7.3 million in 2004. Ciclum is a sales company without any production facilities of its own; it offers a comprehensive product portfolio of currently 18 INN generics (i.e. generics sold under the name of the active ingredient with the company name as a suffix). Ciclum has a nationwide sales presence with approx. 25 sales representatives who focus on doctors.
In 2004, Ciclum achieved sales growth of approx. 3%. Due to the addition of approx. 15 products to the portfolio in 2005, significant growth is anticipated in the future.
So far, STADA has not had its own sales presence in Portugal. The acquisition will enable the Group to leverage existing or targeted EU-wide product approvals for generics through its own sales structures in Portugal as well.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506