South African drugmaker Adcock Ingram have announced the acquisition of Genop Holdings suppliers of; contact lenses, surgical and skincare products supplier Genop Holdings, a deal that allows Adcock to add a company with 400 million rand ($31 million) in annual sales to their holdings.
Adcock did not disclose the financial details of the deal, which forms part of the strategy to cut its reliance on prescription drugs, whose prices are regulated.
Genop specializes in surgical and pharmaceutical products in the ophthalmic, optometry, skincare, aesthetic and plastic surgery sectors in southern Africa.
Genop and its Epi-max branded skincare range of consumer products, has potential for further line extensions and diversification, said Adcock in statement.
The acquisition remains subject to regulatory approvals.
Gilead Sciences, Inc. has announced a new licensing agreement with the Medicines Patent Pool, a United Nations-backed public health organization, to expand access to bictegravir upon regulatory approval in the U.S. Through the agreement, the Medicines Patent Pool can sub-license rights to bictegravir to generic drug companies in India, China and South Africa to manufacture therapies containing bictegravir for distribution in 116 low- and middle-income countries.
Gilead has also expanded its licensing agreements with Sun Pharmaceutical Industries Limited, Strides Shasun Limited, Mylan Laboratories Limited and SeQuent Scientific Limited to include bictegravir, and products incorporating the compound, for distribution in 116 developing countries.
Bictegravir is an investigational integrase strand transfer inhibitor for use in combination with other antiretroviral agents for the treatment of HIV-1 infection in adults. Gilead has filed a New Drug Application to the U.S. Food and Drug Administration for an investigational, once-daily single tablet regimen containing Bictegravir (50mg) and emtricitabine/tenofovir alafenamide.
Indian-based drugs maker Strides Shasun Ltd has agreed to acquire a 55% stake in South Africa-based Trinity Pharma Proprietary Ltd for $4.3 million in an all-cash deal.
Strides Shasun announced in a stock exchange disclosure that the firm will acquire the controlling stake in Trinity Pharma through its wholly owned subsidiary Strides Pharma Asia Pte. Ltd.
The deal will help Strides Shasun enter a high entry barrier market and provide a platform to launch its anti-retroviral drugs (ARVs) in private non-tender market, the firm said.
Trinity Pharma has proven management and expertise in business development, marketing and regulatory services and provides an established distribution channel for faster commercialisation of existing products of Strides which are already registered in South Africa, it said.
“The acquisition provides an impetus to our ‘In Africa For Africa’ strategy as it fast-tracks Strides presence in the lucrative and high entry barrier South African market. With the acquisition, we are now present in East, West and South Africa, covering all the key markets in sub-Saharan Africa,” said Shashank Sinha, managing director of Strides Shasun.
The current management will stay as a minority partner and will continue to run the business under the supervision of Strides Shasun.
Founded in 2003, Trinity Pharma supplies generic pharmaceutical products to pharmaceutical retailers and provides services relating to regulatory requirements and registration of products.
Earlier this year, Strides Shasun sold its generic pharmaceutical products manufacturing and distribution business in Africa to Africure Pharmaceuticals Ltd for $9.9 million, according to its latest annual report.