Baker McKenzie Advised SPIMACO In Acquisition Of Osmopharm Shares
Signed recently, the deal would materialize on obtaining regulatory approvals in the Kingdom of Saudi Arabia and Egypt
Baker McKenzie Advised SPIMACO In Acquisition Of Osmopharm Shares
Signed recently, the deal would materialize on obtaining regulatory approvals in the Kingdom of Saudi Arabia and Egypt
Baker McKenzie has advised Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) on the acquisition of 68.0 percent shares in Swiss pharmaceutical company Osmopharm S.A.
Additionally, it guided the firm on divesting 76.4 percent of Egyptian pharmaceutical manufacturer SPIMACO Misr for Pharmaceutical Industries S.A.E. by way of a share swap and against a cash consideration to be paid by SPIMACO.
Osmopharm is active in the growing extended-release (XR) drugs market, which is seeing a growth rate of approximately 11 percent annually in the western oral XR sector. With the acquisition, SPIMACO plans to diversify its product offerings by integrating Osmopharm's advanced modified release technology into its facilities in Saudi Arabia through technology transfer.
The purchase streamlines SPIMACO's access to the Common Technical Document (CTD) capabilities of Osmopharm. It facilitates product registrations for entry into European and other international markets. It could manufacture SPIMACO's products at Osmopharm's EU Good Manufacturing Practice (GMP) certified unit in Switzerland.
The Baker McKenzie team advising on the transaction was led by M&A, healthcare, and life sciences partners Olha Demianiuk (Geneva) and Alexander Wyss (Zurich).
They were supported by M&A associate Michael Zeller (Zurich).
Hani Nassef, partner, M&A, Ghada El Ehwan, partner, M&A/healthcare, and life sciences, Ingy Elkady, senior associate, M&A, Hala Mohamed, associate, M&A, and Mohamed Elfar, counsel, antitrust & competition (Cairo).
Karim Nassar, partner, corporate/M&A), David Monnier, partner, antitrust & competition), and Waad Alnafisah, associate, corporate/M&A (Riyadh).
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