Neuraxpharm acquires Medinutrix Ltd to provide an immediate platform for the recently acquired market-leading epilepsy treatment Buccolam® in Ireland
Düsseldorf and Barcelona, December 14, 2020 – Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on disorders of the central nervous system (CNS), today announces the expansion of its operations in Northwestern Europe with the launch of Neuraxpharm Ireland, and the acquisition of Medinutrix Ltd (trading as Aribamed), a privately-owned specialty pharmaceutical distribution company.
With this acquisition, Neuraxpharm now has both the platform and the local expertise to launch new products in the Irish market for the first time, and will start to build its position as a CNS specialist in the Republic of Ireland. Neuraxpharm will leverage its CNS expertise to make available suitable products, out of its extensive portfolio, including the recently acquired market-leading Buccolam® for emergency treatment of epileptic children and adolescents.
The acquisition of Medinutrix offers an immediate start of operations thanks to its experienced management, its expertise in the commercialization of niche medicines in the Irish market, and the availability of all required licenses to take care of a wide variety of products.
Neuraxpharm’s growth momentum continues, with expansion of its direct presence in Europe from two to 13 countries in only four years. Today’s announcement underlines Neuraxpharm’s commitment to patients and healthcare professionals and reinforces its strategy to offer a broad range of CNS products in a growing number of countries.
Commenting on the transaction, Dr Jörg-Thomas Dierks, CEO of Neuraxpharm, said: “As a leading European pharmaceutical company specialized in CNS, we are delighted to have acquired Medinutrix, a key distributor of niche medications in Ireland. This will allow us now to provide patients also in the Republic of Ireland with our innovative products more efficiently with the aim of increasingly reaching those who need our CNS products most. We continue to build on our leading position and expanding our portfolio of differentiated medicines targeting the unmet needs of CNS patients throughout Europe.”
Dave Shanahan, Founder of Medinutrix, said: “We are delighted to become part of a leading European innovator such as Neuraxpharm. When we founded Medinutrix, we dedicated ourselves to be a specialty pharmaceutical company delivering real value to patients and healthcare professionals. We are enthusiastic about our future as Neuraxpharm Ireland and the opportunity to work with such a dynamic and experienced team, to bring further innovative medicines to patients in Ireland”.
The terms of the transaction were not disclosed.
With its direct presence in now 13 European countries, Neuraxpharm’s pharmaceutical products count more than 30 CNS brands and over 115 CNS molecules. Covering approximately 85% of the European CNS drug market, Neuraxpharm has annual revenues of around EUR 480 million.
Neuraxpharm Ireland is headed by Craig Bowen, Neuraxpharm UK’s General Manager.