Date: 2016-06-30
Type of information: Company acquisition
Acquired company: Finox Biotech (Switzerland)
Acquiring company: Gedeon Richter (Hungary)
Amount: CHF 190 million (€174.3 million)
Terms: * On June 30, 2016, Gedeon Richter announced the acquisition of Finox Holding, a privately held Swiss biotech company focused on development and commercialisation of innovative and cost effective products addressing female fertility. Finox’s product, Bemfola® is a recombinant-human Follicle Stimulating Hormone (r-hFSH) which was developed as a biosimilar to Gonal-f®, an established reference product.
Bemfola® was the first biosimilar r-hFSH launched in Europe. It is currently commercialised in the European Union, in Israel, in the Middle East and in Australia. The product gained significant market share since its initial introduction in Q2 2014. Consequent to this acquisition Richter will integrate the Finox team focusing on female fertility as part of its growing specialised Women’s Healthcare business. Finox’s senior management and commercial teams have extensive experience in women’s reproductive medicine from leading international pharmaceutical companies.
The purchase price for the shares in Finox amounts to CHF190 million.
Details: Richter will widen its core Women’s Healthcare franchise and further emphasises its commitment to biosimilar business. This acquisition allows Richter to establish its presence in the female fertility therapeutic area – a major
growth market. Bemfola® has already been launched in more than 20 countries within 12 months.
The worldwide gonadotrophin market is currently worth more than € 2 billion and growing at about 4% per year, mainly fuelled by couples increasingly delaying starting a family.
Bemfola® has been granted marketing authorisation in EU in May 2014 and is currently sold in more than 20 countries. The product is available in 5 single use monodose presentations available in the following
dosage forms: 75, 150, 225, 300 and 450 IU. It is supplied in a single-use, unique, state-of-the-art delivery system which results in a simple, once-a-day disposable device, allowing the patient to self-inject.
Related: Women health Sterility Biosimilar products
