Zagreb – Pliva d.d., Barr Pharmaceuticals‘ subsidiary in Croatia, is selling its three operations in Spain – Pliva Pharma Iberia, Laboratorios Edigen and Uso Racional – to Biomedica Foscama Industria Chimico-Farmaceutica. For a transitional period of 18 months, Foscama will be allowed to continue to use the Pliva label for marketing purposes.
The divestment is the result of Pliva’s intention to organise its European business operations more efficiently. Additionally, the transaction completes the process of selling off its noncore operations. Pliva did not disclose the value of the deal to the public, claiming it contained important material facts that will have a significant impact on the company’s results.