Acino divests its patch business to Luye Pharma Group Ltd.
July 25 2016
Today Acino International AG and Acino Pharma AG (together "Acino") have signed a definitive agreement with Luye Pharma Group Ltd. ("Luye") to sell Acino's transdermal patch and implant businesses. The divestment includes Acino's transdermal manufacturing operations, distribution, and R&D capabilities.
The divestment is in line with Acino's strategy of shaping the organization for growth in emerging markets and further expanding Acino's regional commercial presence in its key markets of the Middle East and Africa, the CIS region, and Latin America.
"The divestment will allow us to focus on growth in our key markets, and we believe that Luye's vision and strategy will further the expansion of Acino's existing R&D and manufacturing capabilities in Miesbach. An R&D focused company like Luye will be able to leverage the high potential of our transdermal business in the best possible way in the future, including further global expansion", says Kalle Känd, CEO at Acino. After closing, Acino will retain the marketing rights to certain transdermal patches in its strategic emerging markets.
"As we execute our international strategy, this transaction serves as an important milestone. With its innovative technology platform, focused product portfolio, loyal customer base and experienced leadership, this acquisition will significantly enhance Luye's international capabilities and accelerate its penetration into broader therapeutic areas and geographies" said Dr. Yehong Zhang, Luye Pharma (International) CEO.
Closing is expected to occur in the second half of 2016. Approximately 200 employees in Miesbach have been informed about the divestment to Luye during a Town Hall meeting.
Acino, a Swiss pharmaceutical company headquartered in Zurich, develops, manufactures and internationally markets well-proven and innovative pharmaceuticals in novel drug delivery forms. Acino is a leader in advanced drug delivery technologies with a focus on modified release oral forms, oral dispersible forms, transdermal systems and extended release parenterals, for which it also holds patents.
As a partner of pharmaceutical companies worldwide, Acino supplies finished in-house developed products and/or provides customized one-stop solutions from product development and registration to contract manufacturing, packaging and logistics. Under the brand "Acino Switzerland", Acino markets Swiss-quality medicines in emerging markets with a focus on the Middle East, Africa, Russia/CIS and Latin America. More information on www.acino-pharma.com
Luye Pharma Group Ltd. (the "Company", together with its subsidiaries collectively the "Group" or "Luye") focuses on developing, producing, marketing and selling innovative pharmaceutical products in four of the largest and fastest growing therapeutic areas - oncology, cardiovascular, metabolism and the central nervous system("CNS") therapeutic area. The Group has 30 product portfolio in the market and 21 product candidates in China and 7 product candidates overseas, among which five candidates have entered into the clinical trial stage in the United States of America (the "U.S.") under U.S. Food and Drug Administration rules.
The Group has established production facilities and research and development ("R&D") centers in China as well as offices in US, Malaysia and Singapore with over 3,400 employees, including over 300 R&D personnel. The Group's products are marketed and sold in a vast majority of provinces, autonomous regions and municipalities in the PRC, as well as a number of foreign countries and regions. The Group's nationwide sales and distribution network enabled it to sell its products to over 10,000 hospitals in the PRC.
On 9 July 2014, the shares of the Company were listed on the Main Board of the Stock Exchange of Hong Kong Limited. Over the past 22 years, the Group has grown into an international pharmaceutical group with market leading position in its key therapeutic areas. With the corporate value of "Professional Technology Serves Human Health" and the corporate philosophy of "Customer Orientation, Efficiency, and Employee Achievement", the Group is committed to providing high quality pharmaceutical products and professional services for customers and patients.
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