Abiogen Pharma Acquires German Pharmaceutical Company, Altamedics
Abiogen Pharma has completed the acquisition of the German pharmaceutical distribution company Altamedics GmbH which will become Abiogen’s first foreign branch. Altamedics is based in Cologne and operates in several international markets. Its business is focusses on the distribution of pharmaceuticals in hospital settings, as well as of specialty and high-value-added products.
The acquisition agreement, which is worth approximately 8 million euros, finalises the first step of Abiogen Pharma’s internationalisation plan that was launched seven years ago. Talking about this deal, the first of its kind for the Italian company, Massimo Di Martino, Chairman and CEO of Abiogen Pharma, commented: “Our goal is to turn Abiogen into an international company, without losing sight of our nature as an Italian and family business; that’s why I think this is a truly meaningful first step, besides being a springboard for future expansion into other countries. The firm we have just acquired in Germany is very similar to Abiogen both in its logistics and in its values and principles. It’s a purely commercial firm that distributes well-known products in the therapeutic areas we are targeting (musculoskeletal and pain treatment)”.
Abiogen Pharma is planning to launch and distribute products under its own brand – first and foremost in the bone metabolism area – while also supporting Altamedics’ products in Germany; as a matter of fact, these are expected to become an asset of Abiogen Pharma both in Italy and abroad, possibly through further distribution agreements in other countries.
As pointed out by Prisca Di Martino, International Business Unit Head at Abiogen Pharma: “Our purpose is not to alter the nature of Altamedics but to make it grow by leveraging our know-how abroad, while creating a network of medical sales representatives willing to engage in scientific information and promotion, a service which is presently not available within this company”.
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