Mercury Pharma and Amdipharm merger Acquisition of Fucithalmic®
Mercury Pharma and Amdipharm today announce that they have merged to create a single, consolidated, international specialty pharmaceuticals company with pro forma revenues of around £250 million generated in 112 countries. The combined business is now called Amdipharm Mercury Company Ltd (AMCo).
AMCo today also announces that it has agreed to acquire Fucithalmic®, a global ophthalmic product, from LEO Pharma for an undisclosed consideration. Fucithalmic is an ophthalmic gel containing fusidic acid for the topical treatment of bacterial conjunctivitis. It has annual sales of €30 million and is sold in over 90 countries world-wide.
AMCo will acquire the world-wide rights to Fucithalmic which will continue to be manufactured by LEO Pharma in Denmark and Ireland.
The acquisition of Fucithalmic reinforces AMCo’s strategy of growing a global niche pharmaceuticals business, both organically and through further acquisition opportunities, including emerging markets.
AMCo currently has a portfolio of more than 200 drugs.
John Beighton, Chief Executive of AMCo, said:
“We have agreed to acquire Fucithalmic as an important building block for our future as an expanding global business. Fucithalmic is a well-established global product with significant growth potential.
“Fucithalmic has many of the same characteristics as AMCo’s best products. It has a strong position as a niche medicine. In addition, it is a proven brand that has been off-patent for some time and we know that its revenues will significantly improve through additional sales and marketing support. We look forward to releasing its potential. "
The acquisition of Fucithalmic is expected to complete on 15 April 2013. LEO Pharma is divesting Fucithalmic as it is non-core to its future strategy.