Ethypharm Takes UK’s Martindale Pharma
Boosting its presence in the UK pharmaceutical market, French company Ethypharm has acquired Martindale Pharma for an undisclosed sum. Martindale is a leading UK specialty pharma group with a particular focus on opioid addiction, emergency care and sterile injectables. The Saint-Cloud-based company said the combined group, which will have revenues of more than €300 million, will benefit from a broader geographical reach and expanded manufacturing capabilities including solid dose, injectables and oral liquids.
Michael Harris, CEO of Martindale and future chief operating officer of Ethypharm, said the acquisition will allow the firm to take its products into many other markets, helping patients around the world get access to better medicines.
Supplying medicines to more than 50 countries around the world, Martindale said its strategy is to build leading positions in defined business segments where there is a high unmet medical need. It is recognized as a strategic partner to the UK’s National Health Service and other healthcare providers, providing more than 100 licensed products.
The Buckinghamshire-based group also has a “rapidly growing” overseas business, centered on three geographical regions: Northern Europe; Saudi Arabia and the Gulf Cooperation Council (GCC) region; Australia; and Southeast Asia.
The deal follows another UK purchase by Ethypharm, notably that in October 2015 of DB Ashbourne, a branded pharmaceutical business that markets and supplies prescription-only medicines. Ethypharm is held by funds advised by private equity firm PAI Partners, also based in France, which acquired the drugmaker from rival private equity group Astorg Partners for about €750 million in July 2016.