Orion Pharma strengthens product stable with acquisitions
24 February 2006 00:00 in Company restructures
The Finnish subsidiary of Les Laboratoires Lyocentre, Lyocentre Nordic, has been taken over by Orion Pharma.
Orion said that the acquisition would expand the firm's reach into self-care medications, taking control of Lyocentre Nordic's Biophilus and Lactophilus brands.
Riitta Vartiainen, vice president of Orion's speciality product division, said: "We wanted to enhance our offer of self-care line by products that can also be used for prevention. The value of the products now acquired is about 1.5 million euros in wholesale prices."
The treatments bought up include remedies for diarrhoea, intestinal balance treatments, women's hygiene foam Lactafoam, vaginal suppository Gynophilus and Gynocaps for maintaining normal vaginal flora.
Earlier in the month Orion announced positive fourth quarter sales growth of 2.7 per cent ? rising to ?490 million ? and announced pre-tax profits of 32.4 million euro (?22 million).
"Orion Pharma is estimated to show higher net sales than in 2005, boosted especially by the sales of the entacapone product franchise," the Finnish company said in a statement. However, it added that domestic sales would suffer from a government imposed five per cent cut in prescriptions.© Adfero Ltd
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Story collated for Zenopa by the Adfero News Agency