Galen completes multi-million pound POA Pharma acquisition
Pharmaceutical company Galen has acquired healthcare company POA Pharma in multi-million pound deal.
The move follows a distribution agreement signed between the two companies in 2016 which allowed Galen to market and sell POA Pharma’s metabolic portfolio in the UK and Ireland.
Now, the acquisition will enable Galen to expand its global reach and enter new product portfolios in areas such as rare metabolic diseases.
Headquartered in Sweden, with additional facilities located across the Nordic region and North America, POA Pharma currently represents 16 producers from 10 countries and retains a portfolio of products and an extensive network worldwide.
As part of the takeover, Simon Lawrence, who has held various senior management positions with Galen over 33 years, has been appointed commercial director – Nordics and will be based at the POA facility in Copenhagen.
Lawrence commented: “Galen’s long-heritage and expertise in delivering valued medicines to the people that need them most, coupled with POA Pharma’s important portfolio, means we now have the opportunity to improve the lives of more people affected by a variety of diseases on a truly global scale. Particularly for the underserved, rare, phenylketonuria (PKU) population, who have limited treatment options available to them, today’s completion is a welcome step towards better access to life-saving nutritional therapies across Galen’s extensive distribution network and beyond.”
Dr Dennise Broderick, president & managing director Galen added: "This acquisition is highly complementary to our established business and marks a key milestone in our strategic global growth plans. The founders of POA have created a highly successful business and we look forward to incorporating and growing the reputable company further as part of the Galen organisation. This acquisition will enable Galen to offer a wider range of products to our customers, healthcare professionals and patients around the world."