Neuraxpharm establishes operations in the Republic of Ireland through the acquisition of Medinutrix

European CNS Specialist acquires Medinutrix Ltd to provide an immediate platform for the recently acquired market-leading epilepsy treatment Buccolam® in Ireland

News provided by

Neuraxpharm

Dec 14, 2020, 03:00 ET

DÜSSELDORF, Germany and BARCELONA, Spain, Dec. 14, 2020 /PRNewswire/ -- Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on disorders of the central nervous system (CNS), today announces the expansion of its operations in Northwestern Europe with the launch of Neuraxpharm Ireland, and the acquisition of Medinutrix Ltd (trading as Aribamed), a privately-owned specialty pharmaceutical distribution company.

With this acquisition, Neuraxpharm now has both the platform and the local expertise to launch new products in the Irish market for the first time, and will start to build its position as a CNS specialist in the Republic of Ireland. Neuraxpharm will leverage its CNS expertise to make available suitable products, out of its extensive portfolio, including the recently acquired market-leading Buccolam^® for emergency treatment of epileptic children and adolescents.

The acquisition of Medinutrix offers an immediate start of operations thanks to its experienced management, its expertise in the commercialization of niche medicines in the Irish market, and the availability of all required licenses to take care of a wide variety of products.

Neuraxpharm's growth momentum continues, with expansion of its direct presence in Europe from two to 13 countries in only four years. Today's announcement underlines Neuraxpharm's commitment to patients and healthcare professionals and reinforces its strategy to offer a broad range of CNS products in a growing number of countries.

Commenting on the transaction, Dr Jörg-Thomas Dierks, CEO of Neuraxpharm, said: "As a leading European pharmaceutical company specialized in CNS, we are delighted to have acquired Medinutrix, a key distributor of niche medications in Ireland. This will allow us now to provide patients also in the Republic of Ireland with our innovative products more efficiently with the aim of increasingly reaching those who need our CNS products most. We continue to build on our leading position and expanding our portfolio of differentiated medicines targeting the unmet needs of CNS patients throughout Europe."

Dave Shanahan, Founder of Medinutrix, said: "We are delighted to become part of a leading European innovator such as Neuraxpharm. When we founded Medinutrix, we dedicated ourselves to be a specialty pharmaceutical company delivering real value to patients and healthcare professionals. We are enthusiastic about our future as Neuraxpharm Ireland and the opportunity to work with such a dynamic and experienced team, to bring further innovative medicines to patients in Ireland."

The terms of the transaction were not disclosed.

With its direct presence in now 13 European countries, Neuraxpharm's pharmaceutical products count more than 30 CNS brands and over 115 CNS molecules. Covering approximately 85% of the European CNS drug market, Neuraxpharm has annual revenues of around EUR 480 million.

Neuraxpharm Ireland is headed by Craig Bowen, Neuraxpharm UK's General Manager.

About Neuraxpharm – the European CNS specialist

Neuraxpharm is a leading European specialty pharmaceutical company focused on the treatment of central nervous system disorders (CNS) with a direct presence in Germany, Spain, France, Italy, Czech Republic, Poland, Austria, Switzerland, Slovakia, United Kingdom, Hungary, Portugal and the Republic of Ireland. Neuraxpharm has a unique understanding of the CNS market built over 35 years.

With its focus on CNS, Neuraxpharm develops and commercializes value added medicines, standard generics and Consumer Healthcare products, e.g. probiotics and other nutraceuticals, and is continuously striving to offer a wide range of effective, high quality and affordable CNS treatment options in Europe.

Present with its products in more than 50 countries, Neuraxpharm also manufactures pharmaceutical products and active pharmaceutical ingredients in its own manufacturing sites in Spain, Lesvi and Inke.

In September 2020, Permira, the global private equity firm, announced it has agreed to acquire Neuraxpharm from Apax Partners. The transaction is subject to customary closing conditions and is expected in the fourth quarter of 2020.

To learn more about Neuraxpharm, please visit: https://www.neuraxpharm.com

About Medinutrix Ltd (Aribamed)

Established in 2007, and based in Dublin (Ireland), Medinutrix (trading as Aribamed) partners with leading pharmaceutical manufacturers to commercialize niche pharmaceuticals with differential benefits for individual patients on the Irish market to support medical specialists in hospitals and specialist centers. Therapeutic areas include among others the central nervous system (CNS).

For more information about Aribamed, please visit: https://www.aribamed.com/

SOURCE Neuraxpharm