Sanofi continues streamlining of established products with sale of anti-inflammatory drugs to Fidia Farmaceutici
POSTED ON MARCH 23, 2021
Sanofi has concluded an agreement to divest an integrated portfolio of its anti-inflammatory drugs to Fidia Farmaceutici, a privately-held company headquartered in Italy. This transaction continues Sanofi’s ongoing strategic transformation by simplifying its portfolio and streamlining to enhance profitability.
“Established Products is an important growth driver for Sanofi, however, we are re-focusing our efforts as part of the company’s overall strategic transformation in order to pioneer new opportunities that will drive strong health outcomes for the millions of lives we touch,” commented Olivier Charmeil, Executive Vice President, General Medicines at Sanofi. “Upon completion of appropriate regulatory processes, today’s agreement with Fidia Farmaceutici will ensure patients will have continued access to these seven brands, while also allowing for us to further optimize our operating model through our Play to Win strategy.”
The agreement covers the registrations, trademarks, and related commercial rights of seven products, including four corticosteroids and one non-steroidal anti-inflammatory drug, across Europe and Emerging Markets. The products are already widely used to treat a broad range of conditions in various therapeutic areas.
“The acquisition confirms our will, despite the tough challenge created by Covid-19, to continue investing in core pharmaceutical business as part of our international growth, not only thanks to consolidation in the areas in which we are leaders, but also through more solid positioning as a result of entering different therapeutic areas,” explained Carlo Pizzocaro, President and Chief Executive Officer of Fidia Farmaceutici. “Furthermore, the acquisition represents an opportunity to strengthen managerial resources, under the framework of a sustainable annual average growth: once again, a development model that is characterized by the ability to face the challenges and seize the opportunities of tomorrow, in the long-term, although the world's economies have been particularly battered.”
Commercial terms of the agreement will not be disclosed.
About Fidia Farmaceutici
Privately held, fully integrated Italian multinational company, with R&D, manufacturing, marketing and sales capabilities. The Company was founded in 1946 and is headquartered in Abano Terme (a short distance from Venice). Fidia’s overall objective is establishing its leadership, through an extensive product portfolio mainly based on hyaluronic acid (HA) in joint care, advanced wound care ophthalmology, aesthetic and autologous biological therapy, thereby providing patients and healthcare professionals with a variety of treatment options, such as pharmaceutical products, medical devices and food supplements. Over 55 years of R&D have placed Fidia at the forefront in the production of natural and functionalized HA, with different ranges of MW (1,100 patents). Manufacturing operations - located in Italy - are inspected and approved by major international health authorities, including the US and Korean FDA, the Brazilian ANVISA and G-MED Notified Body, and comply with the strictest international regulations and safety standards. Fidia extends its global reach through local partners in 100+ countries worldwide, as well as wholly-owned subsidiaries in USA, Germany, Austria, Spain, France, Russia, Czech Republic, Slovakia, Romania, Egypt and Middle East.
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