Adamed expands into OTC market with Agropharm acquisition

2010-03-03

Adamed, a Polish drug manufacturer, has agreed to acquire Agropharm, a maker of OTC drugs and dietary supplements, in a transaction thought to be worth over PLN 10m (€2.6m). The takeover - Adamed's second M&A deal in the space of a month, after it bought Polfa Pabianice from the State Treasury – gives the company entry into the Polish OTC and dietary supplements markets, to complement to its core Rx medicine business.
Agropharm – based in Tuszyn in Lodzkie voivodship – has a portfolio of 15 products and product lines. It owns two manufacturing sites, in Tuszyn and in Przypust (also in Lodzkie), and in 2009 generated revenues of about PLN 14m (€3.6m). The company employs approximately 110 people.
Following the two recent takeovers, total headcount at the enlarged Adamed group will be near 1,700, up from 878 at the moment. The company is also on the short-list to acquire another state-owned drug maker, Polfa Warszawa.