Ethypharm has agreed to acquire Martindale Pharma, the companies said today, in a deal the buyer said will strengthen its manufacturing capabilities and broaden its geographic reach.
The price was not disclosed.
Headquartered in Woburn Green, UK, Martindale Pharma is a specialty pharmaceutical company providing medicines to more than 50 countries worldwide. The company’s products focus on opioid addiction, emergency care, and sterile injectables.
The combined company would have revenues of more than €300 million (about $318 million)—Ethypharm disclosed last year that it was generating more than €200 million (about $212 million) in sales—as well as what Ethypharm and Martindale Pharma assert is a solid platform for future growth.
Ethypharm specializes in developing treatments for pain and addiction, as well as complex generics, marketing its products to 30 countries worldwide. Ethypharm employs 950 people, mostly in France, where the company is headquartered in Saint-Cloud, and operates two manufacturing sites and an R&D or “innovation” center.
In July 2016, Ethypharm was acquired by funds advised by PAI Partners, a French-headquartered European private equity firm, for a price reported by Reuters as €750 million (about $796 million).
By combining with Martindale Pharma, Ethypharm said, it will reinforce its presence in the U.K. while benefiting from a wider geographical reach and improved manufacturing capabilities that include solid dose, injectables, and oral liquids.
“The combination of Ethypharm and Martindale enables us to create a leading company in the fields of emergency care, pain, and addiction. It allows us to take our products into many other markets, helping patients around the world get access to better medicines,” Martindale Pharma CEO Michael Harris said in a statement.
Harris will serve as COO of Ethypharm, with Hugues Lecat continuing as CEO of the company.
