The Northern Ireland-based pharmaceutical company Galen today announced the completion of a multi-million-pound takeover of boutique healthcare company POA Pharma.
The acquisition will help Galen expand its global reach and product portfolio in new therapeutic areas, such as rare metabolic disease.
Headquartered in Sweden, POA Pharma has additional facilities across the Nordic region and North America. It currently represents 16 products from 10 countries.
As part of the takeover, Simon Lawrence, who has held various senior leadership roles with Galen for more than 33 years, has been appointed Commercial Director – Nordics, and he will be based at the POA facility in Copenhagen.
Galen, which first signed a distribution agreement with POA Pharma in April 2016, termed the acquisition as an extremely significant new phase of the company’s growth.
Dr Dennise Broderick, President & Managing Director-Galen, said: "This acquisition is highly complementary to our established business and marks a key milestone in our strategic global growth plans.
The founders of POA have created a highly successful business and we look forward to incorporating and growing the reputable company further as part of the Galen organisation."
The company didn't make public the exact amount of the acquisition.
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