Altan Pharma Announces Acquisition of the GES Group, a Specialty Pharmaceutical Company Based in Spain
DUBLIN, June 11, 2015 /PRNewswire/ -- Altan Pharma Limited ("Altan"), an Irish specialty pharmaceutical company today announced that it has acquired a privately held group of Spanish companies, The GES Group ("GES"). The GES Group develops, manufactures and markets specialty injectable drugs. GES, headquartered in Spain, is comprised of three operating companies: GES Genéricos Españoles Laboratorio, S.A.U.; Genfarma Laboratorio, S.L. and Biomendi, S.A.U.
GES has been providing the Spanish hospital market with a comprehensive line of injectable drugs since 1985. The company is a leading player in the pain and anti-infective segments of the Spanish market and also has an international distribution network covering many European, Latin American and Asian markets. The injectables market has attractive fundamentals with growth driven by the increasing demand for generic drugs, which is outpacing growth rates for originator products. The global generic sterile injectables market is projected to grow from $37bn in 2013 to $70bn in 2020.
"GES is a highly respected leader in the specialty pharmaceutical segment with a reputation for supplying quality, injectable products," said Guillermo Herrera, Chairman and Chief Executive Officer of Altan. "GES' manufacturing expertise and international distribution network provide an attractive foundation for building Altan's global specialty pharmaceutical business."
Malin Plc provided an equity investment of €34.5m and Altan also raised debt financing and additional equity financing for the transaction. Banco Sabadell provided the debt financing.
Mr John Given, Chairman of Malin, said: "Altan offers Malin exposure to the growing specialty injectable drug market which is seeing increasing demand for generic drugs as growth rates of more established products come under pressure. Along with the Altan management team, we look forward to building out the company from its Irish base."
Altan is a private, specialty pharmaceutical company based in Ireland. The acquisition of the GES Group represents the realization of the first milestone in Altan's long-term strategic plan of building a global specialty drug company. GES provides an attractive opportunity to enter the generic injectable business in Europe and select Asian and Latin American markets. Altan will build on GES' strong position in the Spanish market and significantly improve its competitive profile in international markets as it simultaneously pursues additional acquisitions.
The four founders of Altan are Mr. Guillermo Herrera, Chief Executive Officer and Chairman; Mr. Holger Liepmann, EVP, Director and Head of European operations; Mr. Mark Gorman, EVP, Director, Head of Americas and Asia and business development; and, Mr. Stafford O'Kelly, EVP, Board Secretary and Chief Financial Officer. These individuals have extensive management experience in the pharmaceutical industry, including 20 plus years working as a team at Abbott Laboratories.
About The Ges Group
The GES Group is a privately owned group of Spanish companies (3), headquartered in Madrid, that develop, manufacture and market specialty injectable drugs for the hospital and healthcare provider market. GES has been providing the Spanish market with a comprehensive line of injectable drugs since 1985. The company is a leading player in the pain and anti-infective segments of the Spanish market and also has an international distribution network covering many European, Latin American and Asian markets
About Malin Corporation Plc.
Malin is an Irish incorporated public limited company. Its purpose is to create shareholder value through the selective long-term application of capital and operational expertise to private, pre-IPO, pre-trade sale operating businesses in dynamic and fast growing segments of the life sciences industry. Through its operational involvement, Malin will work with the investee companies to enable them to reach the full potential of their value proposition and to achieve commercial success. For more information visit http://www.malinplc.com
For further information please contact:
Altan Media Relations/IR
Email: [email protected]
SOURCE Altan Pharma Limited