Denmark-based Leo Pharma has announced today it has sold the rights to ten products to its Sweden-based competitor Karo Pharma for €260m. The transaction only includes rights, not production sites or R&D staff. The divested brands include Conotrane®, Fonx®, Condyline®, Synalar®, Mildison®, Locobase®, Centyl®, Kaleorid®, Burinex® and Selexid®, with products for infections, heart diseases and dermatology. The ten brands in 2017 together generated revenues of SEK700m, half of which in Scandinavia, with a margin 10% higher than most of Karo Pharma’s products. Karo Pharma’s shares rose almost 5% soon after the announcement (Stockholm).
(Source: Leo Pharma)