At the beginning of the year 2020, Esteve announced that they will acquire all shares of the German pharmaceutical company Riemser. This acquisition will provide Esteve with access to the hospital market, as well as a larger presence in Europe.
Esteve is a global pharmaceutical company based in Spain. The company’s focus has been to provide solutions for unmet medical needs, by offering solutions with a broad and highly innovative product portfolio. Esteve has an important presence in Europe, the United States, Mexico, and China and in 2018 the group achieved a turnover of €758 million. The firm’s acquisition of Riemser will accelerate its transformation into a specialty pharma company and give it access to a high-growth sector, the hospital market.
The acquisition target Riemser, has increasingly established itself as a strong player, by becoming a successful provider of specialty pharmaceuticals in therapeutic niches. The company’s product range specifically covers prescription drugs used to treat serious diseases with the three main therapeutic areas being: oncology, neurology and niche therapies. Riemser (HQ in Germany) is present in nearly 50 countries through partners, with subsidiaries in the United Kingdom, France and Spain. The acquisition is expected to be completed within the first quarter of 2020. The parties have agreed not to disclose any details of the transaction.