Janssen will provide post-closing transitional support to facilitate the transfer of the Outside US marketing authorizations. The asset purchase agreement is complemented by a transitional business license agreement and series of other related agreements to run the business without interruption during the period required to transfer marketing authorizations to Richter.
"This agreement is considered as a further step to enhance our existing branded female healthcare franchise worldwide, being a paramount strategic initiative for our Company. Adding a patch to our existing contraceptive delivery methods such as oral contraceptives, emergency contraceptives and intra-uterine device enables us to proudly offer the widest selection of family planning solutions to women,"– said Mr Erik Bogsch, Executive Chairman of Richter.
"A milestone deal in the way of becoming a global pharmaceutical company of major impact in Women's Healthcare, this acquisition clearly strengthens Richter's position. This deal unfolds significant synergies for Richter," – added Gábor Orbán, Chief Executive Officer of Richter.
Evra is approved as a once-a-week contraceptive for women. It is the first transdermal hormonal patch to be approved, as well as the first non-invasive form of birth control that, when used correctly, is 99 percent effective.
Evra is a square patch that must be applied to the lower abdomen, buttocks, upper torso, or outer upper arm. Each patch is worn for seven days before being replaced, for three weeks. The fourth week is treatment free, as with oral contraceptives.
Gedeon Richter Plc. (www.richter.hu), headquartered in Budapest/Hungary, is a major pharmaceutical company in Central Eastern Europe, with an expanding direct presence in Western Europe, in China and in Latin America. Having reached a market capitalization of EUR 3.6 billion (USD 4.1 billion) by the end of 2019, Richter's consolidated sales were approximately EUR 1.6 billion (USD 1.7 billion) during the same year. The product portfolio of Richter covers many important therapeutic areas, including Women's Healthcare, Central Nervous System and Cardiovascular areas. Having the largest R&D unit in Central Eastern Europe, Richter's original research activity focuses on CNS disorders. With its widely acknowledged steroid chemistry expertise, Richter is a significant player in the Women's Healthcare field worldwide. Richter is also active in biosimilar product development.
For more information:
Katalin Ördög: +36 1 431 5680
Zsuzsa Beke: +36 1 431 4888