Faes and Cinfa link up to conquer Portuguese generics sector

Days after signing a major deal with Pfizer, Spain’s Faes Farma has announced a deal that will see it expand its presence in Portugal’s generics market.

The Bilbao-headquartered group has linked up with fellow Spanish company Laboratorios Cinfa in a deal which will see the firms combine their commercialisation and distribution operations for generic products in Portugal. The partners say that the deal is highly synergistic, adding that their goal is to be one of the top players in the Portuguese sector, a market that is worth 500 million euros and is growing faster than the rest of Europe.

The deal comes a week after Faes signed a licensing agreement which sees Pfizer obtain rights to co-commercialise its experimental oral allergy drug bilastine in Mexico. The Spanish firm already has bilastine deals in place with Menarini (51 European countries), Vianex (Greece), Merck Serono (India), Hikma (Middle East and North Africa) and Yuhan (South Korea).