International pharmaceutical group Recordati has acquired Opalia Pharma, a Tunisian pharmaceutical company. The transaction is valued at $48 million, paid in cash, and is subject to prior approval by Tunisian authorities. Opalia Pharma markets dermatology, gastrointestinal and respiratory therapeutic products in a cGMP certified facility specialized in liquid and semi-solid forms.
“Recordati is already generating revenue from its export sales in the North African countries,” said Giovanni Recordati, chairman and chief executive officer. “This acquisition represents a platform to establish a direct presence with the objective of extending coverage also to Central Africa and in Gulf states.”