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Home>Stallergenes Greer Acquires Canadian Medic Savoure, Strengthening Presence in North America

Stallergenes Greer Acquires Canadian Medic Savoure, Strengthening Presence in North America

Stallergenes Greer Acquires Canadian Medic Savoure, Strengthening Presence in North America

10/02/2017

Stallergenes Greer Acquires Canadian Medic Savoure, Strengthening Presence in North America

  • With a leading market share, Medic Savoure is a long-standing player in the Canadian allergy immunotherapy market.
  • The acquisition provides Stallergenes Greer with a commercial platform to grow its existing business and to expand its product portfolio in Canada, including ORALAIR®.

Regulatory News:

Stallergenes Greer plc (Paris:STAGR), a biopharmaceutical company specialising in treatments for respiratory allergies, today announced the acquisition of Medic Savoure Limited, a well-established allergy immunotherapy (AIT) leader in Canada. The acquisition strengthens Stallergenes Greer’s local presence and accelerates the company’s growth in Canada. It provides a positive cash flow allergy business that bolsters Stallergenes Greer’s North American operations.

Medic Savoure commercializes a full range of allergy immunotherapy products, including diagnostic and AIT treatment products throughout Canada. The company has distributed Stallergenes Greer’s allergen bulk products for subcutaneous treatments since the 1970s. Medic Savoure is also licensed to produce individual and customized patient treatments. Assets include the transfer of all employees and a lab facility certified by Health Canada.

“With the acquisition of Medic Savoure, Stallergenes Greer becomes a fully integrated business in Canada, executing against our strategy to strengthen our footprint in North America and to expand our global leadership in allergy immunotherapy," said Fereydoun Firouz, Chairman and CEO of Stallergenes Greer. “We know the team well and are excited by the prospect of working together to bring innovation to the market, and better serve Canadian physicians and patients.”

“We are excited to join the Stallergenes Greer team. We will greatly benefit from their global regulatory, quality and marketing experience,” said John Wigle, Managing Partner at Medic Savoure. Scott Wigle, co-Managing Partner, also added, “We share the same passion for excellence and commitment to delivering the best products and the best service to patients and the medical community.”

AIT is a disease-modifying allergy treatment that changes the way the body reacts to allergens, and can be administered by physicians through subcutaneous injection or taken at home sublingually by liquid or tablet formulation. Canada has a population of 37 million, with an estimated 20%-25% suffering from allergic rhinitis.1

The Medic Savoure acquisition is not expected to have material impact on the Group’s financial performance in 2017. The purchase price of the transaction, which is effective as of October 1st 2017, was not disclosed. On August, 31st Stallergenes Greer announced a narrowed 2017 revenue guidance2 of €260-€270 million and continuing positive development of EBITDA.

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