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Privately owned global pharmaceutical company, Galen, has announced the completion of its acquisition of a boutique healthcare company, POA Pharma.
Privately owned global pharmaceutical company, Galen, has announced the completion of its acquisition of a boutique healthcare company, POA Pharma, in a Jan. 8, 2020 press release.
Completion of the acquisition, worth millions, follows from the distribution agreement that was signed in April 2016, allowing Galen to market and sell POA Pharma’s metabolic product portfolio in the United Kingdom and Ireland. The takeover of the Swedish based boutique healthcare company will extend Galen’s global footprint into the Nordic territory and Northern Europe.
“Galen’s long-heritage and expertise in delivering valued medicines to the people that need them most, coupled with POA Pharma’s important portfolio, means we now have the opportunity to improve the lives of more people affected by a variety of diseases on a truly global scale,” said Simon Lawrence, Galen’s recently appointed commercial director-Nordics, in the press release. “Particularly for the underserved, rare, phenylketonuria (PKU) population, who have limited treatment options available to them, today’s completion is a welcome step towards better access to life-saving nutritional therapies across Galen’s extensive distribution network and beyond.”
Dr. Dennise Broderick, president and managing director, Galen, added, “This acquisition is highly complementary to our established business and marks a key milestone in our strategic global growth plans. The founders of POA have created a highly successful business and we look forward to incorporating and growing the reputable company further as part of the Galen organization. This acquisition will enable Galen to offer a wider range of products to our customers, healthcare professionals, and patients around the world.”