Farmak increases its presence in the EU countries by acquiring pharmaceutical marketing companies in the Czech Republic and Slovakia, together with the relevant IP rights and trademarks. The seller in the transaction is a portfolio company of the British PE investor Novator.
The decision to expand Farmak’s business into the EU markets is a part of its global strategy to evolve into an international company. Farmak’s development focus points include, inter alia, export sales, investments into abroad manufacturing facility (construction of a production site in Spain commenced in 2022), licensing agreements, as well as acquisitions of companies that are players in the EU markets.
Following thorough analyses of the available options, Farmak has chosen to acquire marketing companies given the speed of entry into the Czech and Slovak markets since these companies already have marketing capabilities, cooperate with the largest pharmacy chains and key drug distributors in the both EU countries.
As a standalone transaction, Farmak has also acquired Ukrainian business of Novator’s portfolio company. Farmak has become the owner of its product portfolio, selected assets and IP rights for products and trademarks. This will strengthen Farmak’s position in the cardiology and cough&cold ATCs.
Both transactions have been completed after the seller fulfilled the conditions precedent. The acquired target businesses and operations fully comply with the legal requirements and high ethical and corporate standards of Farmak.
Farmak is the leader of the Ukrainian pharmaceutical market by sales pharmaceuticals in monetary terms*. The company has a 6% share of the Ukrainian market and exports its products to more than 50 countries, including the EU, Asia, Central and South America and the Middle East. Farmak has representative offices in Spain, Poland, UAE, Kyrgyzstan, Uzbekistan and Kazakhstan.
Novator is an international private equity investor, founded by Icelandic businessman Thor Björgolfsson in 2004, with offices in London, Iceland, Luxembourg and Switzerland. The fund’s major interests are in telecommunications, fintech, gaming, and pharmaceuticals.
• FinPoint investment banking firm has acted as a financial adviser to Farmak on the acquisition of companies in the Czech Republic and Slovakia, as well as the asset deal in Ukraine.
• Dentons international law firm has acted as a legal advisor to Farmak
*According to Proxima Research, 2022
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