Philadelphia, Pennsylvania – Plexus Ventures is pleased to announce the completion of a divestiture project on behalf of its client, Glenmark Pharmaceuticals Ltd. Plexus Ventures advised Glenmark on the sale of a CNS product portfolio and sales team to Neuraxpharm.
Mr. Robert Moran, Plexus Ventures’ President, stated: “This transaction is an ideal match which furthers the strategic ambitions of both companies. It allows Glenmark to focus resources on its core therapeutic areas and enables Neuraxpharm to augment its commercial capabilities and product portfolio in Poland.”
Neuraxpharm’s press release issued on February 25, 2020 is included below:
Neuraxpharm reinforces presence in Poland with the acquisition of Glenmark’s CNS product portfolio
• European CNS Specialist Neuraxpharm acquires CNS product portfolio along with sizeable, established commercial team in Poland from Glenmark Pharmaceuticals Ltd
• Jacek Sawicki appointed General Manager of Neuraxpharm Polska
Neuraxpharm Group, a leading European specialty pharmaceutical company focused on the treatment of central nervous system (CNS) disorders, today announces the acquisition of Glenmark’s CNS product portfolio in Poland. This move will further strengthen Neuraxpharm’s position in the region.
Following the transaction, the Glenmark CNS commercial team in Poland will join Neuraxpharm Polska’s existing sales and marketing organisation to create a strong player in the Polish CNS market, with excellent access to psychiatrists, neurologists and pharmacies. As part of this agreement, Jacek Sawicki, who has been Country Manager of Glenmark Poland since 2017, will join Neuraxpharm as General Manager for Poland as of 1st April, reporting to Dr Olaf Krampe, Head of the Central European Region. Jacek has a wealth of experience in the CNS market having spent eight years at a global biopharmaceutical company, UCB Pharma, before assuming the position of Specialty Business Unit Manager at Teva with responsibility for the company’s CNS capabilities.
Glenmark’s established portfolio of 20 proprietary CNS products in Poland comprise both prescription medicines and Consumer Healthcare products. Lead products include the branded generics Cital® and Lamotrix®, both relevant brands in their respective markets. With branded generics commanding the dominant share of market, Poland has the highest penetration of generics in Europe. The leading Consumer Healthcare brand is Revitanerw®, a food supplement used for regeneration and nutrition of nerve cells.
The terms of the transaction were not disclosed.
Commenting on the news, Dr. Jörg-Thomas Dierks, CEO of Neuraxpharm, said: “Following the launch of Neuraxpharm Polska last year, we are very pleased to add Glenmark’s complementary CNS portfolio to our operations in this region. We look forward to welcoming Jacek Sawicki along with his excellent established commercial team, as we work to significantly strengthen our Polish presence and reinforce our position as a leading CNS player in Europe. This acquisition will enable us not only to broaden our offer of established CNS products in Poland, but also to further strengthen our commercial power and our Consumer Healthcare segment.”
Neuraxpharm Polska is part of the company’s Central European region and is headed by Dr. Olaf Krampe, Neuraxpharm’s Head of the Central European Region and General Manager of Neuraxpharm Germany. Starting distribution in Poland in 2014, Neuraxpharm Polska was officially launched in April 2019. Since then, Neuraxpharm has been building its position as a CNS specialist in the country offering nutraceuticals, standard generics and value-added medicines. Today’s announcement reflects the company’s commitment to the Polish market, its patients and medical community, and reiterates its strategy to offer a broad range of CNS products in the country which represents the seventh largest CNS market in Europe and is valued at over EUR 900m (1).
Neuraxpharm continues to invest in its pipeline, developing differentiated and complex products in CNS to be rolled out in Poland as well as other Neuraxpharm countries. The current acquisition follows Neuraxpharm’s rapid growth in Europe over the past year which includes expansion in Eastern Europe, Switzerland and Austria through acquisitions, and the launch of new operations in Poland, UK and Portugal. Moreover, new products, including a probiotic, have been launched, and the company has strengthened its portfolio of branded Consumer Healthcare products and entered the market for cannabidiol (CBD) products.