Nordic pharma company Navamedic ASA has offered $7.2m (SEK75m) to purchase all shares in Sweden-based pharmaceutical firm Sensidose AB.
The independent bid committee of Sensidose has recommended the cash offer.
At present, the shares of Sensidose are listed on Spotlight Stock Market in Sweden.
Sensidose is involved in the marketing of drugs in combination with an innovative device for individual dosing to treat patients with advanced Parkinson’s disease.
Navamedic CEO Kathrine Gamborg Andreassen said: “This potential transaction is an excellent example of Navamedic’s proactive approach to M&A. It also represents an opportunity for Navamedic to broaden its product portfolio and to support patients suffering from medical conditions, such as Parkinson’s.
“We are confident that the potential addition of Sensidose’s products will significantly strengthen our overall product offering and quickly become value generating upon launch.”
Sensidose has carried out sales in Sweden since the end of 2016, as well as in Norway and Denmark since 2018.
The firm obtained market approval for its products in eight additional countries. In addition, it also has initiated talks for geographic expansion of its products.
Currently, Sensidose medicine is being used for the treatment of nearly 270 patients.
Furthermore, the company has generated total revenues of $0.76m (SEK7.9m) in 2022.
If the acquisition occurs, Navamedic will include Sensidose’s products in its existing marketing and distribution channels.
Both the entities will also work together to further develop and introduce Sensidose’s products in the Nordics, Europe, and across the globe.