Munir Sukhtian Pharmaceuticals

Jordan-based drugmaker MS Pharma has agreed to buy Genepharm, a Greek generic pharma manufacturer, for an undisclosed sum. The acquisition is expected to complete before the end of April. “This acquisition is highly complementary and synergistic to our business and marks an important milestone in our growth plans,” commented MS Pharma chairman Ghiath Sukhtian. “We believe this acquisition will enable Genepharm to offer a wider range of products and technologies to its customers in Europe and around the world.” Based in Athens, Genepharm develops, manufactures and licenses high-value generic drugs with a sales network of 223 customers stretching across 70 countries. The company has three manufacturing facilities in the Greek capital: one for conventional solids; one for oncology sterile liquid dosage forms; and one for oncology oral solid dosage forms. As well as extending its geographic footprint, Genepharm’s product range will complement MS Pharma’s existing chronic disease portfolio, adding several products in the cardiovascular, central nervous system and oncology areas. The takeover will give Genepharm access to MS Pharma’s manufacturing facilities and add sterile injectable products and biotechnology candidates to its product offering. MS Pharma added that plans are in place to “significantly” expand development resources at its Athens site.

MS Pharma, based in Jordan and operating across the Middle East, Turkey and Africa, has entered into an agreement to acquire Genepharm, a European pharmaceutical company. Genepharm's senior management will remain to help guide the company through the next phase of its growth. The transaction is expected to close in April. Based in Greece, Genepharm develops, manufactures and out-licenses high-value generic pharmaceutical products and has an extensive network of 223 customers across 70 countries. Genepharm combines strong R&D capabilities with manufacturing capacity in conventional solids, sterile liquid (oncology) and oncology oral solids. The acquisition expands MS Pharma's geographic footprint, and complements its existing chronic disease portfolio with the addition of several important products in cardiovascular, CNS and oncology. The acquisition will allow Genepharm to access MS Pharma's manufacturing facilities and product portfolio and be part of a group with more than 2,000 employees. Genepharm's portfolio will be strengthened with sterile injectable products and biotechnology candidates and plans are in place to significantly increase the development resources in Athens. Ghiath Sukhtian, chairman of MS Pharma said, "This acquisition is highly complementary and synergistic to our business, and marks an important milestone in our growth plans. Genepharm's management team has built a successful business, and we look forward to supporting them in growing the Genepharm business. We believe this acquisition will enable Genepharm to offer a wider range of products and technologies to its customers in Europe and around the world." Genepharm said, "We are excited to be entering into a new phase of growth with MS Pharma. This acquisition will help accelerate Genepharm's growth plans and will enable the company to offer a wider range of products to its partners and customers.”