Irish pharma firm Galen has announced the completion of its POA Pharma (POA) acquisition.
The company has stated that the multi-million pound takeover will help to “significantly expand” its global reach and product portfolio in exciting new therapy areas, such as rare metabolic disease.
The deal first got underway back in April 2016, when Galen signed a distribution agreement with POA, allowing the company to market and sell POA’s metabolic product portfolio in the UK and Ireland.
As a results of the acquisition, Galen hopes to extend its global footprint into the Nordic territory and Northern Europe, as POA currently represents 16 producers from 10 countries and retains a “strong portfolio of products and an extensive network worldwide.”
As a part of the switch-up, the company has appointed Simon Lawrence as its new commercial director, Nordics, where he will oversee operations in the region and grow the team to reflect demand in line with the global Galen strategy.
The acquisition “marks a key milestone in our strategic global growth plans” explained Dr Dennise Broderick, president & managing director at Galen, “The founders of POA have created a highly successful business and we look forward to incorporating and growing the reputable company further as part of the Galen organisation.
“This acquisition will enable Galen to offer a wider range of products to our customers, healthcare professionals and patients around the world.”
