The deals and acquisitions in the pharma industry continue even as the bells are about to ring for New Year.
The deals and acquisitions in the pharma industry continue even as the bells are about to ring for New Year.
Argentine drugmakers Microsules, led by the Breitman family, and Biosintex, led by the Levandovsky family, have each bought a bundle of brands from US firm Abbott, in transactions worth close to 80 million pesos ($5 million), Pharmabiz has learned from reliable sources.
For Microsules, the acquisition is strategic as the drugmaker looks to boost its market share, while Abbott plans to gradually let go its products aimed at the pharmacy channel in order to focus on its hospital products business.
The products passing to Microsules as of January 1 include the decongestant Rhinal; the haemorrhoid treatment Proctometadyne; the antibiotic Ely Diar and the mucolytics Funciobron – all prescription drugs.
The ulcer drug Lanzoprazol; antiviral Dioxis antifungal treatments Medifungol, are also included in the acquisition, along with the OTC analgesic Sindol and stretch mark treatment Estriat, which may be incorporated under the Finadiet name.
The products acquired from Abbott by Biosintex include the antibacterial Vitacortil and the throat drops Bucoangin.
Back to their original owners
One of the curiosities of the transaction is that two of the brands changing hands are returning to their original owners. The analgesic Sindol and the nasal decongestant Rhinal were both created by Gustavo Malvestiti, now a minority shareholder in Microsules.
Malvestiti created them when he was owner of the former drugmaker Ahimsa, one of four companies forming Recalcine, which was bought by Abbott in 2014.
$ 1 = 16 pesos
