Neuraxpharm Group, a European specialty pharmaceutical company focused on the treatment of central nervous system disorders (CNS), has announced the acquisition of Farmax, a CNS specialty pharmaceutical company, from SVUS Pharma.
Farmax, located in Hradec Králové, Czech Republic, was the commercial division of SVUS Pharma, and has a strong distribution presence in the Czech Republic, Slovakia as well as a small presence in Hungary. Farmax is a leader in sales and marketing both branded and non-branded generics pharmaceuticals for CNS disorders such as Zolpinox. It also commercializes well-known OTC nutraceuticals such as Preventan and Maxicor.
Farmax has been renamed Neuraxpharm Bohemia and will commercialize its products under the Neuraxpharm brand. Leveraging its proprietary sales force in the Czech Republic, Slovakia and Hungary, Neuraxpharm Bohemia plans to quickly offer new and differentiated products to local patients and healthcare providers based on the group’s broad CNS portfolio.
Dr. Jörg Thomas Dierks, CEO of Neuraxpharm, commented: “We are pleased to welcome Farmax to the Neuraxpharm family. We truly believe that this acquisition will strengthen our leading position in the European CNS market and provide us direct access to the Central and Eastern European (CEE) markets with our own sales force. Entering the CEE region is one of the pillars of the Neuraxpharm strategy as these markets offer an attractive growth potential.”
Dr. Lukáš Jirka, previously SVUS Pharma General Manager and now General Manager at Neuraxpharm Bohemia, added: “I am delighted to join Neuraxpharm and become part of a leading European CNS franchise. I am very proud of SVUS Pharma’s achievements in the Czech Republic and the whole CEE region. I would like to thank the management and employees of SVUS Pharma for their dedication and commitment. We will certainly contribute with our expertise in the CNS area to make the Neuraxpharm Group an even stronger player in the European CNS market.”
The terms of the transaction were not disclosed.
Source: Company Press Release