This also includes production facilities in the city of Bila Tserkva, in the Kiev region. Biopharma shareholders will retain the company’s plasma business and will focus on its development both in Ukraine and abroad. The acquisition is subject to customary conditions precedent, including merger clearance in Ukraine, and is expected to close in December 2019.
As a result of this acquisition, STADA has made one of the largest financial investments in the Ukrainian pharmaceutical sector to date and one of the biggest recent foreign investments in this country. ”We see great potential in the Ukrainian market. With this acquisition, we will become an important player in the Ukrainian pharma market with a strong local production footprint,” emphasizes STADA CEO Peter Goldschmidt.
“STADA’s acquisition of the pharmaceutical business of Biopharma is a logical step within STADA’s European growth strategy. We will integrate Ukraine as soon as possible into our European organization,” explains Steffen Wagner, Head of European Markets at STADA.
STADA’s Ukrainian business will be headed by the newly appointed General Manager Borys Labensky. “My goal is to integrate the business quickly into our Group, drive synergies and leverage the capacity of the acquired production plant,” he said.
Peter Goldschmidt welcomes around 300 new colleagues to the STADA family: “Our four corporate values of Agility, Entrepreneurship, Integrity, and One STADA form the basis for a growth culture for all our employees globally.”
Konstantin Efimenko, Biopharma’s Managing Partner: “Biopharma is a leading pharmaceutical company founded over 100 years ago and expanding rapidly since 2014, building two state-of-the-art, GMP-certified facilities in Bila Tserkva. We offer high-quality engineering, a skilled, professional team and high production standards monitored through international audits. Attracting such a high-quality European investor demonstrates confidence in our employees and capabilities, and will reinforce our ability to deliver high-quality and innovative products to patients. Together with my partner Mr. Vasyl Khmelnytskiy and financial investors, I will focus on Biopharma’s plasma business, leveraging our new plasma fractionation plant, developing a network of modern blood collection centers and expanding our presence on international markets.”
Lenna Koszarny, Founding Partner and CEO of Horizon Capital: “As the leading private equity firm in Ukraine, we are proud to back Biopharma since 2012, investing together with Dutch development bank FMO into this exciting growth story. We believed in Biopharma’s shareholders and their bold vision to build a best-in-class pharmaceutical plant and a plasma fractionator, requiring capital investments in excess of $100 million. We welcome STADA’s acquisition of Biopharma’s pharmaceutical business and their decision to invest and produce in Ukraine”.
STADA’s acquisition of Biopharma’s pharmaceutical prescription and consumer health business represents the latest milestone in a series of smaller bolt-on acquisitions with significant strategic value, including STADA’s previously-announced purchase of six GSK OTC products in August 2019 and its acquisitions of the EMEA distribution rights to Nizoral and controlling stakes in Vietnam-based Pymepharco and BIOCEUTICALS in 2018.
The transaction is subject to merger control in Ukraine and is expected to close later this year.stada.com