Acquisition of Siegfried Inhaler Franchise provides access to the novel PulmoJet® Device and its Respiratory Development Pipeline
Prague, Czech Republic – October 1, 2010 – Zentiva, part of the sanofi-aventis Group, today announces its intention to enter the market for respiratory medicines via the acquisition of the Inhaler Franchise of the Siegfried Group. The acquisition will provide Zentiva with an attractive portfolio of assets that will allow it to become an important player in a market that is expected to develop rapidly post 2013 when generic respiratory products are forecast to be launched. The financial terms of the deal were not disclosed. The transaction was structured as an acquisition of Siegfried's German subsidiary dedicated to the Inhaler Franchise and acquisition of certain related assets, in particular intellectual property. Both the company and the assets were legally acquired not by Zentiva, but by other companies within the sanofi-aventis group.
Today’s acquisition provides Zentiva with control of the PulmoJet®delivery device. PulmoJet® is an innovative, patient friendly, multi-dose, dry powder inhaler which is simple to use by asthmatic patients. Its robust design provides excellent performance and has the ability to deliver a range of inhalation drugs.
The acquisition also gives Zentiva a pipeline of new generic respiratory medicines to develop. The most advanced of these is a combination product containing the long acting beta-agonist salmeterol and the inhaled steroid fluticasone. The second is another combination product containing the long acting beta-agonist formoterol and the inhaled steroid budesonide.
The PulmoJet® device, together with these combination products, will enable Zentiva to enter the market for inhaled medicines used to treat asthma and chronic obstructive pulmonary disease (COPD). In 2009, branded products containing long acting beta-agonists and steroids achieved sales of over €2.9 billion in Europe.
Zentiva’s growth strategy is focused on expanding the range of affordable medicines to patients across Europe. Its planned entry into the respiratory market is another important step in the successful execution of this strategy.
Rob Koremans, the CEO of Zentiva, commenting on today’s news said, “Today’s acquisition provides a real boost to our plans to extend the range of modern high quality affordable medicines to patients. By acquiring the Siegfried Inhaler Franchise we believe we will have a strong competitive position which will allow us to become a leader in affordable respiratory medicines in the future.”
Sanofi-aventis, a leading global pharmaceutical company, discovers, develops and distributes therapeutic solutions to improve the lives of everyone. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
Zentiva, part of the sanofi-aventis Group, is a leading provider of modern, high quality affordable medicines in Central and Eastern Europe. Zentiva is headquartered in Prague, Czech Republic.
Active in Life Science markets, the Siegfried Group is a global manufacturer of pharmaceutical products with production facilities located in Switzerland, Germany, Malta and the USA, Siegfried currently has approximately 850 employees and achieved annual sales of approx. CHF 283 million in 2009.
Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the research-based pharmaceutical industry as well as the corresponding intermediate steps and standard products, and provides development and production services for drugs in finished dosage forms.
Siegfried Holding AG is listed on the Swiss Exchange in Zurich (SWX: SFZN).
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