CORPORATE PRESS RELEASE
NORGINE COMPLETES THE DIVESTMENT OF ITS MIDDLE EAST AND NORTH AFRICA (MENA) OPERATIONS AND PRODUCT RIGHTS TO ACINO
London. 28 June 2016, 13:00 BST. Norgine B.V. today announced that it has completed the divestment of its MENA operations and product rights for MOVICOL®, MOVIPREP®, KLEAN-PREP® and NORMACOL® in MENA to Acino.
Peter Stein, CEO at Norgine said: “The divestment of Norgine’s MENA operations and product rights to Acino ensures that patients in the region will continue to benefit from our products while enabling Norgine to drive our European strategy forward in order to deliver profitable growth and create a dynamic and sustainable business in the long term. Norgine will be looking to use the proceeds of this transaction to acquire further specialist products for sale through our European infrastructure.”
Kalle Känd, CEO at Acino said: “The acquisition of Norgine’s MENA operations is perfectly in line with our dynamic growth strategy in our key markets in the Middle East and Africa. The products are complementary to our existing portfolio in these markets and will considerably strengthen our offer in one of our core therapeutic areas – gastroenterology.”
The transaction includes the transfer of Norgine’s employees and entities in Egypt and employees in Tunisia. Norgine will continue to manufacture its own products for Acino.
Financial terms are not disclosed.
Notes to Editors:
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was EUR 320 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
Acino, a Swiss pharmaceutical company headquartered in Zurich, develops, manufactures and internationally markets well proven and innovative pharmaceuticals in novel drug delivery forms. Acino is a leader in advanced drug delivery technologies with a focus on modified release oral forms, oral dispersible forms, transdermal systems and extended release parenterals, for which it also holds patents. As a partner of pharmaceutical companies worldwide, Acino supplies finished in-house developed products and/or provides customized one-stop solutions from product development and registration to contract manufacturing, packaging and logistics. Under the brand “Acino Switzerland”, Acino markets Swiss-quality medicines in emerging markets with a focus on the Middle East, Africa, Russia/CIS and Latin America.
Norgine Media Contacts:
Isabelle Jouin, T: +44 (0)1895 453643
Charlotte Andrews, T: +44 (0)1895 453607
Follow us @norgine
Acino Media Contact:
Ulrike Seminati, T: +41 44 555 22 03
E-Mail: ulrike.seminati (at) acino-pharma.com