Romania: Pharmaceutical Takeover Zentiva and Siyiara Enterprises to Acquire Romanian Pharma Firm Solacium
Zentiva and Siyiara Enterprises have signed a Shared Purchase Agreement to acquire Romanian pharmaceutical company Solacium along with its subsidiary Be Well Pharma. Zentiva intends to acquire the firm as it believes that it will assist its present generic medicines business and grow its OTC capability for consumers in Romania.
Prague/Czech Republic – Zentiva Group and Siyiara Enterprises have recently signed a Shared Purchase Agreement for the acquisition of Romanian based pharmaceutical company Solacium, together with its subsidiary Be Well Pharma. Solacium is currently part of the Dr. Max Group and owned by Siyiara Enterprises together with Trasca Alexandru-Tony.
Nick Haggar, CEO of Zentiva stated: "Zentiva is delighted to confirm the signing of its first acquisition following the carve out from Sanofi in the last quarter of 2018. Solacium complements our existing generic medicines business and grows our OTC capability and offering for patients and consumers in Romania."
"After Dr. Max's acquisition of A&D Pharma Group, we have decided to primarily focus on three main pillars of our Romanian business: pharma retail, wholesale and marketing & sales. Although Solacium is a fast-growing food supplement and OTC medicines producer, we believe that under the management of a specialised and successful pharmaceutical company, such as Zentiva, it can fulfil its potential and significantly boost its business beyond current levels," said Leonardo Ferrandino, President and Group CEO of Dr. Max.
The transaction remains subject to the approval of several conditions including, but not limited to, the Romanian Competition Council.