UK group Martindale Pharma is being acquired by Ethypharm in a move designed to given the French drugmaker a stronger foothold in the country.
Martindale is a leading UK-based specialty pharmaceutical company providing medicines to over 50 countries around the world, with a particular focus on opioid addiction, emergency care and sterile injectables.
Joining forces with Martindale will enable Ethypharm to reinforce its presence in the UK, and the combined group will also benefit from a broader geographical reach and expanded manufacturing capabilities, the firm noted.
Michael Harris, chief executive of Martindale and future chief operating office of Ethypharm, said the deal will allow allow the firm to take its products into "many other markets helping patients around the world get access to better medicines".
The new entity will have revenues of more than 300 million Euros.
Terms of the deal were not disclosed.