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Almirall to acquire Poli Group’s skin drugs

Published on 30/11/15 at 10:30am
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Almirall has agreed to acquire 100% of the share capital of Poli Group Holding as the Spanish pharma company continues its transition to a specialty company operating in dermatology.

Poli Group Holding is the holding company of Poli Group which comprises three operating companies: Taurus Pharma GmbH, Polichem S.A. and Polichem S.r.l.

The strategic transaction means Almirall continues to execute its plan to become a top global dermatology player in the pharma industry, which began last year after a transfer agreement with AstraZeneca.

The Bareclona-based pharma company has a diversified and growing portfolio of proprietary and well-established drugs, focused on dermatology and complemented with a strong portfolio of gynaecology and respiratory products.

Jorge Gallardo, president of Almirall, says: “This important transaction is the result of our continued focus on growing our presence in the global dermatology market. The products of Poli Group will provide Almirall with leading market positions in key geographies in which we want to increase our footprint. We still have room to grow in dermatology and will continue to analyse opportunities in the market”.

The acquired brands include Ciclopoli, the flagship anti-fungal product for nail infections that has boosted the Poli Group into a world leader in nail diseases (onychomycosis), a large and underserved market affecting approximately 10-15% of the total population. Other dermatology products include Sililevo and Zeloglin, used to treat nail psoriasis and rosacea.

Some 60% of the product sales of Poli Group, all their activities in R&D and all their direct commercial efforts are in the dermatology area. Poli Group’s products are commercialised in 70 countries, with a focus on Europe and Asia. For the last 12 months, ending in June 2015, the company generated net sales close to €85m and has 85 employees.

This acquisition of Poli group is the next step in the strategic evolution of Almirall, moving further into a specialty pharma business model focused heavily on dermatology.

However, the transaction is subject to Almirall’s shareholders’ approval and will have to be approved by anti-trust authorities in certain markets. Almirall says it does not envisage any significant obstacles to closing by the end of this year or beginning of 2016 and will be funded using Almirall’s available cash balance.

Yasmita Kumar

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