Norgine and SpePharm announce new joint venture agreement

Norgine and SpePharm have announced a new joint venture that will expand the availability of SpePharm products across the European market.

The 50/50 joint venture agreement will involve the creation of a new organisation called SpePharm AG, which has acquired the product portfolio of SpePharm Holding, including Savene, MuGard, Xerotin, PROther and the Dantrium brands.

These products will be commercialised through Norgine’s pharmaceutical infrastructure, which spans all of the major markets of Europe, while SpePharm AG will seek to acquire further hospital-based products to be sold through this infrastructure.

Norgine BV has also acquired the commercial subsidiaries of SpePharm Holding BV in Italy,
Germany, the Nordics and the UK.

Peter Stein, Norgine’s chief executive, said: "We welcome those employees of SpePharm group who are joining the Norgine group and we look forward to working with our new partners to further develop the joint venture."

Earlier this month, the company received European regulatory approval for Xifaxan, a new therapy for the reduction of recurrence of episodes of overt hepatic encephalopathy.