Altan Pharma Announces Acquisition of the GES Group, a Specialty Pharmaceutical Company Based in Spain

Altan Pharma has acquired a privately held group of Spanish companies, The GES Group. The GES Group develops, manufactures and markets specialty injectable drugs. GES, headquartered in Spain, comprises three operating companies: GES Genéricos Españoles Laboratorio, SAU; Genfarma Laboratorio, SL and Biomendi, SAU.

GES has been providing the Spanish hospital market with a comprehensive line of injectable drugs since 1985. The company is a leading player in the pain and anti-infective segments of the Spanish market and also has an international distribution network covering many European, Latin American and Asian markets. The injectables market has attractive fundamentals with growth driven by the increasing demand for generic drugs, which is outpacing growth rates for originator products. The global generic sterile injectables market is projected to grow from $37 billion in 2013 to $70 billion in 2020.

"GES is a highly respected leader in the specialty pharmaceutical segment with a reputation for supplying quality, injectable products," said Guillermo Herrera, Chairman and CEO of Altan. "GES' manufacturing expertise and international distribution network provide an attractive foundation for building Altan's global specialty pharmaceutical business."

Malin Plc provided an equity investment of €34.5 million and Altan also raised debt financing and additional equity financing for the transaction. Banco Sabadell provided the debt financing.

Mr John Given, Chairman  of Malin, said: "Altan offers Malin exposure to the growing specialty injectable drug market which is seeing increasing demand for generic drugs as growth rates of more established products come under pressure. Along with the Altan management team, we look forward to building out the company from its Irish base."