Czech-based pharmaceutical group Zentiva signed a purchase agreement for the acquisition of Romanian company Solacium, together with its subsidiary Be Well Pharma from Indian group Siyiaram Enterprises. The terms of the deal were not disclosed.

Solacium is currently part of Dr. Max Group and owned by Siyiaram Enterprises along local entrepreneur Alexandru-Tony Trasca. The transaction remains subject to approval by several authorities, including, but not limited to the Romanian Competition Council.

“Zentiva is pleased to announce the signing of its first acquisition after separating from Sanofi group in the last quarter of 2018. Solacium complements our generic drugs business and helps us develop our OTC division and the offer for patients and consumers in Romania”, said Nick Haggar, Zentiva CEO.

Solacium posted RON 30 million (EUR 6.6 million) revenues and RON 940,000 (EUR 0.2 million) losses  in 2017. At the end of the same year, its debt was RON 30 million (EUR 6.45 mln) while its assets were RON 20 million (EUR 4.3 mln).

Zentiva owns one of the biggest pharmaceutical producers in Romania - Zentiva Bucharest, which recorded a turnover of RON 414 million (EUR 88.7 mln) and a net profit of RON 248 mln (EUR 53 mln) in 2018, according to preliminary data.

editor@romania-insider.com

(Photo source: Zentiva.ro)