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news.Italy-based pharmaceutical company Recordati has acquired Herbacos-Bofarma, a Czech pharmaceutical company with headquarters in Pardubice. The price paid of around E19 million was funded from existing liquidity.
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Giovanni Recordati, chairman and CEO of Recordati, said: “The acquisition of Herbacos-Bofarma represents a further step in our strategy of building a direct presence in Central and Eastern Europe. The economies of the Czech Republic and Slovakia are among the most dynamic in this area and the relative pharmaceutical markets are among the most evolved.
“Herbacos-Bofarma, with a market share of around 2% in volumes, is well positioned to act as a platform for launching the new products in our pipeline in the Czech and Slovak markets.”