Euro 45 million: Italian company goes shopping in Portugal
Milan/Sintra – The Italian pharmaceutical company Recordati S.p.A agreed in July to acquire Jaba Farmacêutica (Sintra, Portugal) and all other pharmaceutical businesses belonging to the Grupo Jaba in Portugal. The purchase price is approximately a45 million. The closing is expected to take place by the end of the year.
Founded in 1927, Jaba, the third largest Portuguese pharmaceutical group, has a significant market share and an extensive product portfolio covering a wide range of therapeutic areas. It includes prescription drugs sold under license as well as proprietary brands, plain generics, and a well-known line of OTC products. The business also includes modern production facilities which offer manufacturing services for third parties.
The acquired business, with headquarters near Sintra, comprises an organization of around 330 employees, including more than 100 medical representatives, and generated revenues in 2005 of approximately a39 million.