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Almirall Acquires a Portfolio of Eight Products from Shire Plc for $213 Million

  • This operation further strengthens Almirall in the dermatology area as well as its international expansion, following the recent Hermal acquisition
  • The acquisition of these products with part of the associated sales network reinforces Almirall’s position in the UK

BARCELONA, Spain, 8th October, 2007. Laboratorios Almirall, S.A. (“Almirall”), the international pharmaceutical company based in Spain, today announces that it has entered into a definitive agreement to acquire  a portfolio of eight products with part of the associated sales network in Europe (a staff of 63) from Shire plc , for a consideration of US$213 million (€151 million1). The transaction is contingent on competition clearances and other customary consents.

Following the recent acquisition of Hermal, the dermatology company, Almirall is paving the way for its future operation for United Kingdom while continues to consolidate its international expansion, particularly in countries where the company already had subsidiaries (Germany, Belgium, France, Italy, Mexico and Portugal).

The portfolio acquired consists of two dermatology products and six others for the treatment of pain, gastrointestinal and inflammatory diseases, which together generated sales in 2006 of US$53.8 million (€38.1 million), around 70% of which were in the UK, with the remaining 30% in Germany, France, Spain, Ireland and Italy.

Dr. Jorge Gallardo, Chairman and CEO of Almirall said “We are very satisfied with this acquisition since it builds our international presence in a critical market like the UK and reinforces our position as one of the key European specialty pharmaceutical companies”.

With this operation, Almirall expands its range of dermatological products and reinforces its portfolio in the area of pain, gastrointestinal and inflammatory diseases.

Product portfolio

The acquired portfolio comprises 8 products. The two major products in terms of sales are Solaraze (diclofenac sodium 3% gel - for actinic keratosis) and Vaniqa (11.5% eflornithine – facial hirsutism), with sales of US$21 Million (€14.8 Million) in 2006 and represent around 40% of the total acquired portfolio. The other six products, Lodine (etodolac – rheumatoid arthritis), Colazide (balsalazide disodium - ulcerative colitis), Cebutid (flurbiprofen - rheumatoid arthritis), Meptid (meptazinol - pain), Robaxin (methocarbamol - muscle relaxant) and Mintec (peppermint oil BP - irritable bowel syndrome), accounted for sales of US$33 Million (€23.4 Million) in 2006.

About Almirall

Almirall, an international pharmaceutical company committed to health, headquartered in Barcelona, Spain, researches, develops, manufactures and commercialises its own R&D and licensed drugs with the aim of improving people’s health and wellbeing.    

The therapeutic areas on which Almirall focuses its research resources are related to the treatment of asthma, COPD (Chronic Obstructive Pulmonary Disease), psoriasis, rheumatoid arthritis and multiple sclerosis.

Almirall is currently present in over 80 countries. The company has direct presence in Europe and Latin America via affiliates in France, Germany, Italy, Portugal, Belgium and Mexico.

 __________________________

[1] Considering an exchange rate of €1=US$0.7089 (as of 5th October 2007)

For more information:

Ketchum/SEIS

Sonia San Segundo / Victoria Hernández

sonia.sansegundo@ketchum.com

victoria.hernandez@ketchum.com

Tel.:34 91 788 32 00

Posted: October 2007


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