Azur Pharma Announces the Acquisition of Pharmelle
DUBLIN, Ireland, February 26, 2007 /PRNewswire-FirstCall/ -- Azur Pharma Limited ("Azur") today announced that it completed the acquisition of Pharmelle, a privately held U.S. specialty pharmaceutical business. Pharmelle markets branded prescription pharmaceutical products with a focus on the urology and female health markets. Pharmelle has a nationwide sales and marketing infrastructure in the U.S. with 35 sales and marketing professionals. Revenue for 2006 was in excess of $10 million. Pharmelle was founded in 2001 by Mr. Joe Ducharme and Mr. Jock Gauthier. Mr. Ducharme and Mr. Gauthier will remain with Azur.
Pharmelle's leading products include Urelle(R) and the Natelle(R) brands. Urelle is used for the treatment of symptoms of lower urinary tract infection. Natelle is a range of prescription pre-natal vitamins and mineral supplements.
"Joe and Jock have been very successful in building the revenue and profitability of Pharmelle. They have created a talented sales team and we welcome the entire team to Azur. This acquisition brings significant benefits to us including a nationwide sales and marketing capacity which will be leveraged to market other products that we acquire. Our existing product, Gastrocrom(R), continues to perform very strongly since it was acquired by Azur in January 2006. The combined business will generate revenues in excess of $20 million for 2007", commented Mr. Seamus Mulligan, Azur Pharma's Chairman and Chief Executive Officer.
"We have hit the targets we set for Azur at the start of 2006. We now have the revenue base and infrastructure in the U.S. to accelerate our growth, and add incremental revenue and development programmes. We are excited about our prospects for 2007", said Mr. Mulligan.
"I am looking forward to the growth opportunities for our staff and products arising from this transaction. Azur has achieved a lot since its foundation in 2005 and has a level of ambition that should ensure a significantly bigger business and more products by the end of this year", commented Mr. Gauthier.
About Azur Pharma
Azur Pharma is a privately held pharmaceutical company dedicated to enhancing patients' lives by developing and marketing pharmaceutical products in specialist therapeutic areas. Azur Pharma's strategy is to identify, evaluate, selectively acquire and enhance the value of late stage development and approved pharmaceutical products. (Website: www.azurpharma.com)
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Posted: February 2007