Biogen Idec acquires Dompé joint ventures
20 September 2011
Biogen Idec (NASDAQ: BIIB) has announced the company will
acquire 100% of Dompé shares in its joint ventures in both Italy and
Switzerland. This integration is part of Biogen Idec’s and Dompé Group’s
broader strategy to focus on each company’s respective core business.
Under the terms of the agreement, the joint ventures will
become 100%-owned affiliates of Biogen Idec, giving the company a
direct commercial presence in 29 countries. The new affiliate
offices will be renamed Biogen Idec Italia and Biogen Idec
Switzerland. In addition, the parties have agreed to the assignment
of certain outstanding credits held by the Italian joint venture.
Further financial terms were not disclosed.
“We thank Dompé Group for being exemplary partners for nearly 15
years. This partnership delivered significant results, enabling
Biogen Idec to solidify our position as a leader in multiple
sclerosis research, development and care in both Italy and
Switzerland,” said Francesco Granata, Executive Vice President of
Global Commercial Operations, Biogen Idec.
“To maintain this leadership position in an increasingly complex
industry, we must have greater focus on our operational efficiencies
and the use of our resources. Bringing the joint ventures in Italy
and Switzerland into the Biogen Idec affiliate network will be
crucial in helping us achieve this.”
Dompé will maintain its positioning as a fully integrated
pharmaceutical and biotechnology company, covering the entire value
chain from research and development to manufacturing and commercial
operations, in the business areas of primary care, specialties and
rare diseases.
“Our collaboration with Biogen Idec was fruitful and beneficial
to both companies.” said Eugenio Aringhieri, Chief Executive Officer
at Dompé Group. “We believe that, in an ever-changing industry, the
need to develop innovative treatment solutions to cover unmet
clinical needs is crucial. This deal with Biogen Idec will allow us
to further concentrate on our core competencies as a research-based
company and fully dedicate our efforts on the development of our
proprietary product pipeline currently focused on rare diseases.”
The joint venture collaboration between the two companies began
in 1997 as Biogen Dompé in Italy and Switzerland. Initially, the
joint ventures were responsible for the commercialization of AVONEX.
They were then expanded to include commercial, distribution and
service rights for TYSABRI upon the therapy’s approval in each
respective market.
Source: Biogen Idec