Altan Pharma acquires Spain-based pharma GES Group
Altan Pharma, an Irish specialty pharmaceutical company 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, is comprised of three operating companies: GES Genéricos Españoles Laboratorio, Genfarma Laboratorio and Biomendi.
GES has been providing the Spanish hospital market with a comprehensive line of injectable drugs since 1985. The company focuses on 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 billionn in 2020.
Malin provided an equity investment of $38.7 million and Altan also raised debt financing and additional equity financing for the transaction. Banco Sabadell provided the debt financing.