Solvay Pharmaceuticals completes acquisition of Neopharma in Sweden
SOLVAY PHARMACEUTICALS announces the successful completion of the acquisition of NEOPHARMA AB, a company based in Uppsala, Sweden, as shareholders representing 100% of the company’s capital accepted the friendly takeover bid launched by Solvay last December. This acquisition, which values NEOPHARMA AB at SEK 640 million (EUR 71 million), allows SOLVAY PHARMACEUTICALS to add the product DUODOPA®, an important new therapy for people suffering from advanced Parkinson’s disease, to its product portfolio.
This will be SOLVAY’S initial commercial entry into the field of Parkinson’s Disease. In addition, Solvay’s R&D pipeline includes promising compounds for the treatment of earlier stage Parkinson’s Disease. PD is second only to Alzheimer ’s disease in the numbers of cases, with more that 1,3 million patients suffering from it in major countries.
DUODOPA® is specifically appropriate for patients with advanced progressive disease, where oral treatments are no longer effective and are typically associated with severe motor fluctuations. It has been commercially available in Sweden since February 2004 and is registered in eight other EU member states. A second mutual recognition procedure for approval in other major European countries is ongoing. DUODOPA® is a levodopa/carbidopa combination administered inside the upper intestine via a small tube inserted directly into the first part of the small bowel, or duodenum. A programmable pump allows the physician and patient to individually tune the delivery of active ingredients, suspended as stable gel from a cassette worn outside the body. Better control of body movements can be achieved resulting in many patients becoming more functional in their daily lives.
SOLVAY PHARMACEUTICALS is the pharmaceuticals business of SOLVAY. It is a research driven pharmaceutical company that seeks to fulfill carefully selected, unmet medical needs in the therapeutic areas of cardiology, gastroenterology, mental health and gynecology/andrology. SOLVAY PHARMACEUTICALS employs more than 7500 people worldwide. For more information, visit solvaypharmaceuticals.com.
SOLVAY is an international chemicals and pharmaceuticals group with headquarters in Brussels. It employs more than 30000 people in 50 countries. In 2003 consolidated sales amounted to EUR 7.6 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. SOLVAY is listed on the Euronext 100 index of top European companies. Details are available at www.solvay.com.