Zentiva buys Amneal subsidiary Creo Pharmaceuticals

Zentiva Group, a healthcare firm headquartered in Czech Republic, has acquired Creo Pharmaceuticals, a subsidiary of US-based Amneal Pharmaceuticals.

Financial details of the transaction have not been disclosed.

Founded in 2007, Creo Pharmaceuticals operates as a UK unit of Amneal and is responsible for commercial operations in the country.

Amneal made an undisclosed strategic investment in Creo Pharmaceuticals in 2013.

Creo was established to offer supply partners with direct marketing access to generics market in the UK. The company supplies drugs to the wholesale, pharmacy and hospital sectors.

The divestiture of Creo Pharmaceuticals forms part of Amneal’s strategy to better focus on the US market.

"This transaction will permit Amneal to concentrate management time and resources to support its continued focus on strengthening its growing position in the US market."

Amneal Pharmaceuticals president and CEO Rob Stewart said: "We believe that the value created by our commercial operations in the UK will be better maximised by Zentiva, which will gain additional products and enhanced competitive market share position as a result of this transaction.

"This transaction will permit Amneal to concentrate management time and resources to support our continued focus on strengthening our growing position in the US market."

Zentiva expects the acquisition to bolster its footprint in the UK and enable medicines supply, while Creo Pharmaceuticals expects the deal to drive its growth.

Zentiva CEO Nick Haggar said: "This move reflects our confidence in the UK and our deep commitment to the development, manufacture and supply of high-quality affordable medicines."

The Czech firm focuses on providing generics and OTC drugs to patients across Europe. It employs a total of 2,500 people and operates two production sites in Europe.

Amneal develops, manufactures and distributes generic, brand and biosimilar medicines.  The company has nearly 6,500 employees across North America, Asia and Europe.

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