From the Wires
PharmaVentures Acts as Exclusive Advisor to Sanofi in the Divestment of Zentiva's Hlovovec Production Facility to Wood Pharma Holding
By: PR Newswire
Dec. 19, 2012 07:14 AM
OXFORD, England, December 19, 2012 /PRNewswire/ --
PharmaVentures is pleased to announce that it has acted as transaction advisors and sale process executioners for Sanofi. The current deal covers Sanofi's divestment of its Zentiva subsidiary's production plant in Hlohovec, Slovakia. Under the terms of this agreement, Sanofi will sell to Wood Pharma Holding the production, packaging and distribution part of its Zentiva business covering Active Pharmaceutical Ingredients (APIs) and Drug Products activities. The sale includes transfer of the production facilities and employees. Future co-operation in the purchase of drug products and APIs produced by Wood Pharma Holding in Hlohovec in the next five years has also been agreed.
This divestment follows the 2010 sale of Sanofi's two European facilities (Porcheville, France and Alnwick, United Kingdom) to Covance where PharmaVentures acted as exclusive advisors to Sanofi. .
PharmaVentures continues to strengthen its considerable experience in the M&A field including divestments of manufacturing and R&D businesses. Fintan Walton, CEO, PharmaVentures Ltd said: "PharmaVentures is delighted to have worked with Sanofi again in finding a new buyer for one of their facilities. This is a fantastic outcome for the Hlohovec site and for the Slovakian Pharmaceutical industry as a whole. Not only does this deal safeguard jobs at Hlohovec, but it offers the prospect of expansion of the existing business and further job opportunities for the region."
Over the past 21 years, PharmaVentures has acted as advisor to over 600 global pharmaceutical and biotechnology clients in transactions covering licensing, merger, acquisition, divestment and joint venture activities for companies.
PharmaVentures is a premier transaction advisory boutique; a world leader in partnering, M&A deals and strategic alliances. Our unrivalled bank of specialist experience, deal analytics and network of contacts among innovators and large pharma makes us uniquely placed to support your business in all aspects of deal making and strategic planning. PharmaVentures is well known for its deep insight into deal structures and its success for generating partnering interest.
Find out more http://www.pharmaventures.com
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Now in its 21st year, PharmaVentures is based in Oxford, UK, and employs over 17 people.
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