TORONTO, Dec. 5 /CNW/ - Apotex Inc., announced today that it has acquired
Lareq Pharma S.L. of Spain for an undisclosed sum from Industria Quimica Y
Farmaceutica VIR S.A.
Lareq, founded in 1984 and dedicated to generics since 1996, is a
mid-sized generic pharmaceutical company. With 12 generic registrations,
several pending near-term launches and products in development, Lareq is the
13th largest player in the retail pharmacy generics segment. It benefits from
strong brand recognition amongst pharmacists, and a nation-wide sales force
that reaches Spain's retail pharmacies.
The Spanish pharmaceutical market is the 5th largest in the EU and ranks
7th in the world, valued at almost 13 billion Euros. The generics segment
represents 9% of the total market, growing 16.6% compared to 7.6% for the
overall pharmaceutical market in 2006.
"The Spanish generics market is a fast-growing market and all the major
international generics competitors are present here - it is a key market for
us as we establish ourselves as a recognized global generic player", says
Andrew Kay, President of Apotex International.
The Spanish acquisition represents an important milestone for Apotex
International as it extends the organization's foothold in Western Europe and
is a launching pad for the many EU products currently in the development
pipeline at Apotex.
Just recently, Apotex announced the acquisition of Topgen of Belgium from
the Zambon Group. "The acquisitions in Belgium and Spain, as well as our new
affiliate in Turkey, are clear signals of our commitment to growth outside
Canada and the US" continues Andrew Kay.
Besides the aforementioned countries, Apotex International Inc. has an
affiliate presence in Australia, New Zealand, Central America, Mexico, Czech
Republic, Italy, Netherlands, Poland and the UK.
Apotex Inc. is the largest Canadian-owned pharmaceutical company,
employing over 6,800 people in research, development, manufacturing and
distribution facilities world-wide. Apotex produces more than 300 generic
pharmaceuticals in approximately 4,000 dosages and formats which, in Canada,
are used to fill over 75 million prescriptions a year - the largest amount of
any pharmaceutical company in this country. In the next 10 years, Apotex will
spend $2 Billion in R&D and has presently 602 products under development.
For further information:
For further information: Elie Betito, Director, Public & Government
Affairs, Tel: (416) 749-9300, e-mail: firstname.lastname@example.org