Medeus Pharma acquires Elan's European sales and marketing business
Medeus Pharma, a pharmaceutical company focused on marketing drugs to European hospital specialists, has acquired Elan Corporation's European sales and marketing business for $120m.
Medeus Pharma, a pharmaceutical company focused on marketing drugs to European hospital specialists, has acquired Elan Corporation's European sales and marketing business for $120m.
The new company has been set up with private equity investment group Apax Partners to provide biotechnology and pharmaceutical companies with a specialist sales and marketing partner in Europe.
Sir Richard Sykes, the rector of Imperial College London and former ceo of Glaxo Wellcome, has been appointed chairman of Medeus Pharma. Bryan Morton, previously with Merck & Co. and Bristol-Myers Squibb, is the new ceo
Medeus Pharma's current product portfolio includes the key Elan drugs Abelcet, an antifungal treatment for hospitalised patients; Myocet, a cardio protective chemotherapy agent used in late stage breast cancer; and Targretin, an innovative treatment for cutaneous T-cell lymphoma. Its central marketing, medical and regulatory functions will be based in Stevenage, UK, working closely with its affiliates in the major European countries. With sales of approximately $80m, the company is focused on oncology, critical care and niche therapeutic indications within hospital speciality medicine.
'As an independent business Medeus Pharma will be able to offer biotechnology and pharmaceutical companies outstanding access to the European market,' said Sykes. 'We anticipate this to be of particular interest to North American and other non-European companies with products of less than $200m in peak sales.'