York Pharma acquires wound care products from Solvay

Dermatology company York Pharma has announced the acquisition of the sales and worldwide commercial rights to Flammazine and Flammacerium from Solvay Pharmaceuticals.

The company has also agreed terms for a financing package to fund this purchase and provide money for the enlargement of the group.

Under the terms of the deal, York Pharma will pay Solvay a total consideration of 28.5 million euros (22.6 million pounds) for the dermatological brands.

Flammazine and Flammacerium are indicated for the prevention and treatment of topical wound infections and burn wounds.

Currently the products are sold in 21 countries worldwide and garner joint revenues of around 8.5 million pounds.

Terry Sadler, chief executive of York Pharma, said: “This is a highly strategic acquisition for York Pharma, bringing us two well-established products which represent the ‘gold standard’ of treatment within their sphere of use.”

He added that the company would use its existing sales and marketing infrastructure in Europe to improve sales of both brands and widen their geographical reach.

In May 2008, York Pharma announced its financial results for the six months ending March 2008, with the firm reporting a pre and post-tax loss of 4.5 million pounds.