ABIOGEN PHARMA ACQUIRED ALTAMEDICS

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• Altamedics is a pharmaceutical distributor based in Germany and operating on European and non-European markets
• Through the acquisition of the German company, Abiogen Pharma has completed the first step of its internationalisation process started in 2015
• Thanks to this agreement, Abiogen Pharma is going to open its first branch outside Italy

PISA, Italy, Dec. 8, 2022 /PRNewswire/ -- Abiogen Pharma S.p.A. completes the acquisition of the German pharmaceutical distribution company Altamedics GmbH which will become Abiogen's first foreign branch. Altamedics is based in Cologne and operates in several international markets. Its business is focusses on the distribution of pharmaceuticals in hospital settings, as well as of specialty and high-value-added products.

The acquisition agreement, that worth approximately 8 million euros, finalises the first step of Abiogen Pharma's internationalisation plan that was launched seven years ago. Talking about this deal, the first of its kind for the Italian company, Massimo Di Martino, Chairman and CEO of Abiogen Pharma, commented: "Our goal is to turn Abiogen into an international company, without losing sight of our nature as an Italian and family business; that's why I think this is a truly meaningful first step, besides being a springboard for future expansion into other countries. The firm we have just acquired in Germany is very similar to Abiogen both in its logistics and in its values and principles. It's a purely commercial firm that distributes well-known products in the therapeutic areas we are targeting (musculoskeletal and pain treatment)".

Abiogen Pharma is planning to launch and distribute products under its own brand - first and foremost in the bone metabolism area - while also supporting Altamedics' products in Germany; as a matter of fact, these are expected to become an asset of Abiogen Pharma  both in Italy and abroad, possibly through further distribution agreements in other countries.

As pointed out by Prisca Di Martino, International Business Unit Head at Abiogen Pharma: "Our purpose is not to alter the nature of Altamedics but to make it grow by leveraging our know-how abroad, while creating a network of medical sales representatives willing to engage in scientific information and promotion, a service which is presently not available within this company".

From licensing-out to the first foreign subsidiary -- Abiogen Pharma's international expansion started in 2015 with its licensing-out contracts, i.e., product distribution agreements entered into with local partners. In the light of the results and potential recorded as of 2020, a dedicated Business Unit was established in an effort to promote diversification, so as to reduce the risk of depending on a single country and to become more attractive in other markets. In 2021, the revenue from our international division peaked at 24 million euros. Abiogen Pharma's current footprint spreads across 40 countries through 14 partners and, by acquiring Altamedics GmbH, the company fulfils the dual aim of implementing growth and gaining direct access to a non-Italian market: "A fantastic success to celebrate Abiogen's twenty-fifth anniversary" continues Prisca Di Martino who further explains: "There is a difference between having partners and having branches abroad. Having a branch abroad enables us to do what we are good at, applying ourselves and focusing on the therapeutic areas we are targeting".

A family company going international – In the near future, Abiogen Pharma is also planning to broaden its product portfolio and to undertake new potential acquisitions of businesses with similar cultural and logistics approaches. "We are targeting new branches  in Europe – explains Prisca Di Martino – where we expect to find a scenario not too different from the Italian one, for sure in Spain and France. Overall, this means at least three European branches from 2024, in addition to the Italian headquarters. But we are also considering opportunities in other continents".

"Thanks to our capabilities and open-mindedness, we coped with Covid-19, price increases and supply chain disruptions and we were able to successfully manage outstanding growth" concludes Ms. Di Martino.

About Abiogen Pharma. Abiogen Pharma is headquartered in Pisa, Italy. Since 1997, its business spans across several integrated areas: research and development, manufacturing of pharmaceuticals with its own brand or under third-party contracts, and marketing of own and licensed drugs. Its target therapeutic areas include bone metabolism, pain treatment, as well as respiratory, metabolic (diabetes) and dermatological disorders. With 195 million euros in revenue (2021) and 450 employees, it ranks among the 15 largest Italian pharmaceutical companies.

About Altamedics. Altamedics was established in 2009 in Cologne, Germany. The company distributes pharmaceuticals – namely hospital products – on the domestic and on several international markets, via third-party manufacturing sites and its warehouse and logistics centre in Neunkirchen. With operations in 15 countries through its partners, Altamedics' key figures currently include approximately 3 million euros in revenue and 6 employees.

SOURCE Abiogen Pharma