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Pharma Tech Outlook | Thursday, December 17, 2020
The latest buy out of Apollo Pharmaceuticals by Provepharm Life Solutions will allow the companies to increase their direct sales and continue developing their commercial activity.
FREMONT, CA: Provepharm Life Solutions acquires Apollo Pharmaceuticals USA (Florida), a firm based in the United States that focuses on commercializing sterile injectable products for hospital usage. The business activities of Apollo Pharmaceuticals USA will be merged with those of the American subsidiary of the group, situated in the US (Pennsylvania). The financial terms of the deal is not to be disclosed.
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Provepharm's strategic purchase allows it to strengthen its position in the US market, especially through the expansion of its product range, initially by combining Apollo's four registered products. This deal will also enable the group to optimize its commercial activity with hospitals and successfully release its pipeline products. Positioning Provepharm Life Solutions nearer to the end-user will make it to better adapt its products and services to customers' expectations. The sales generated from the deal will enable the group to continue shaping its portfolio, focused on hospital products in demand of revitalization, through internal growth initiatives and external acquisitions. The world market for hospital sterile injectable products is estimated to grow at a CAGR of 7 percent by 2024.
Apollo Pharmaceuticals has proven expertise in the development, manufacturing, and distribution of sterile injectable solutions. With its experienced sales team, its sound network of global manufacturing partners, and its client-centric approach, the firm brings proven commercial expertise and guarantees a consistent and reliable supply of its products to the US market. This will be a catalyst for growth, allowing the companies to achieve their objectives more quickly in the United States.
Apollo Pharmaceuticals is an ideal platform for Provepharm's commercial deployment in the United States. This buyout will enable the companies to increase their direct sales and continue developing their commercial activity in this country. New recruitment is strategized, starting in the first quarter of 2021, to strengthen the French and US sites' teams.
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