FEBRUARY 28 2017
Acino signed a deal with certain subsidiaries of Endo International plc to acquire Litha Healthcare in South Africa.
Litha Healthcare, headquartered in Midrand, Johannesburg, is a pharma group with around 160 employees providing products and services to public and private hospitals, pharmacies, general and specialist practitioners, as well as government law enforcement programs.
The acquisition is fully in line with Acino's strategy to grow its business by entering selected high potential markets in the Middle East and Africa. The acquisition of Litha Healthcare gives Acino immediate access and a strong presence in South Africa, which is key for the company to become a significant player in the pharmaceutical landscape on the continent.
"We have chosen Litha as they have a strong position in the market and a solid reputation in several therapeutic areas that are strategic for Acino. With its well-established product pipeline and its long-standing relationships with licensing partners Litha offers very promising prospects for the future." Kalle Känd, CEO
Closing of the deal is expected in the second quarter of this year.