Farmalíder Group, a privately-owned Spanish pharmaceutical group, has sold 49% of its shares to Ascendis Health International Limited, a wholly-owned subsidiary of Ascendis. Clearwater International advised the shareholders of Farmalíder on the sale.
Farmalíder, based in Madrid and founded in 1986, is a group of Spanish companies involved in the development, registration, licensing and production of generic pharmaceutical products – specialising in pain management, as evidenced by its market leading position in the ibuprofen and paracetamol markets in Spain – with a growing presence in other European markets.
Ascendis Health International Limited is a health and care company operating in plant, animal and human health. Ascendis’ strategy is to create a group of health brands that covers the value chain from imports of raw materials, manufacturing and distribution to consumers via retail and direct selling channels. Ascendis has over 1400 staff. The acquisition provides Ascendis with an entry into the attractive €23 billion Spanish pharmaceutical market, one of the five largest markets in Europe. Farmalíder will also serve as a strategic platform for Ascendis to expand into Europe due to its established presence in major markets including Germany, the United Kingdom, Italy, France, Portugal, Belgium and Sweden. Farmalíder is also in the process of entering Latin American markets through its office in Miami.
The Farmalíder shareholder team will remain in place following the sale. Ascendis has the option to purchase the remaining Farmalíder shares in 2020.
Clearwater International advised Farmalíder on the deal. The team was led by Madrid-based partner Francisco Gómez, supported by director Miguel Ángel Lorenzo.