Chemo buys a subsidiary of Juste and promotes integration in the pharmaceutical sector
The group of Hugo Sigman acquires a division of the Madrid company
ALFONSO SIMÓN RUIZ 03-03-2017 08:07
To printChemo buys a subsidiary of Juste and promotes integration in the pharmaceutical sector
Headquarters of Grupo Chemo in Madrid. ()
The chemical and pharmaceutical group Chemo , through its subsidiary Exeltis , has purchased from Madrid's Juste laboratory its Juste Farma division , which sells gynecological products, central nervous system and primary care. In this way, the integration movements in the sector are encouraged.
This is one of the few operations between Spanish laboratories in recent times, ahead of what experts in the sector point out for the coming months: the corporate movements in which national pharmaceutical companies can participate. The operation was carried out by the Chemo Group, which has acquired the subsidiary Juste Farma, from the Madrid laboratory Juste.
Chemo incorporates the pharmaceutical products of gynecology, central nervous system and primary care to its asset portfolio, as well as absorb the sales network of this division of Juste, a company that has been advised in the transaction by Deloitte . Industry sources indicate that the integration of the two companies' templates has just taken place. The amount of the transaction has not been exceeded.
These therapies acquired by Chemo reinforce the presence of Exeltis in Spain thanks to the sum of the research, promotion and marketing activities of these medicines. It also incorporates drugs for the treatment of insomnia, depression or epilepsy
The operation is part of an international situation of concentration in the sector, due to the need of laboratories to market new products.
The Juste laboratory was created in Madrid in 1922 by Rafael Juste, focusing on his beginnings in products for ophthalmology. Out of the transaction is Justesa Imagen, the large chemical division , which manufactures active ingredients (the raw material for drugs) destined for laboratories around the world. During these years, the company has been heavily specialized in the production of radiological contrast media, which served to initiate internationalization since the 1970s. With production plant in Coslada, in 2015 it invoiced 29.3 million euros, according to the latest data presented in the Register. It continues to be a family business, presided over by Inés Juste since 2011 as a representative of the fourth generation of the saga.
For its part, Chemo is also a family chemical pharmaceutical group created in 1977 by the Argentinean Hugo Sigman , with corporate headquarters in Spain and with three production plants in our country (in Leon, Guadalajara and Alcalá de Henares). This group - led by Leandro Sigman, son of the founder - is divided into three major international businesses. On the one hand, Chemo Industrial, with 11 industrial plants, five chemical and six pharmaceutical, for the production of ingredients of drugs and finished drugs.
Another of its subsidiaries is Mabxience , dedicated to the development of biosimilars, biological drugs that enter the market at a lower cost when the originals lose patents. These types of therapies are the most leading to diseases such as cancer, in addition to the most costly for the health system.
Finally, Exeltis, where Juste Farma is now integrated, is a brand launched in Spain in February. It adds 300 products in its portfolio in the areas of women's health, respiratory, dermatology and endocrinology, with 4,000 professionals and 35 subsidiaries. Chemo España has the holding company Kevilmare , with a turnover of 503 million in 2014, according to data collected in the Registry by Insight View.
