Menarini Group Succeeds in Bid for Invida Group
Singapore & Florence, Italy – November 15, 2011 – Singapore, Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, South Korea, Taiwan, Thailand, The Philippines, and Vietnam — these are the nations into which the Florence-based Italian multinational Menarini Group (Menarini) shall now be expanding following its acquisition of Invida Group Private Limited of Singapore (Invida).
Invida is one of the leading biopharmaceutical sales companies currently operating in the Asia-Pacific region, an area which represents 10% of the world's pharmaceutical market with a 20% annual growth rate. With an annual revenue exceeding USD 220 million (EUR 160 million), 3,600 employees and a consolidated presence in important therapeutic areas, Invida is considered by Menarini to be the ideal company to act as gateway to many of the most significant emerging countries with the world's highest growth rates. Financial terms of the deal were not disclosed.
The development plan foreseen by Menarini for the Invida underscores how Menarini in all its acquisitions has always opted to maximize local identity, culture and skills, hence guaranteeing Invida, and its professionals a future built around a dynamic and entrepreneurial vision.
"We have been committed to the prospect of acquiring Invida over the past few months, commented Dr. Alberto Giovanni Aleotti, who, alongside the company's General Manager, Piero Corsa, headed the Menarini task force engaged in the negotiations. "Once again, our team has worked with extraordinary dedication and I would like to take this opportunity to thank each and every team member."
Dr. Aleotti added, "We look forward to gaining first-hand experience of the great vitality this region brings. It is a place where one can find a true concentration of highly skilled professionals and companies, thanks to the Singaporean Government's policies that support business growth and innovation."
"In Invida, we have found the "Menarini of Asia", and a team of executives who possess exceptional competencies," commented the two General Managers at Menarini, Piero Corsa and Domenico Simone, highlighting the great potential and opportunities behind this acquisition. "Invida will become Menarini's Asian headquarters, located in Singapore. It is ideal since it provides a bridge between Europe and Asia. Our goal is to provide patients in the Asia-Pacific region access to our medicines."
Mr. John Graham, Chief Executive Officer of Invida will continue to lead the Asia-Pacific operations.
"This acquisition enables Invida to continue to grow our company as the commercialization specialist in the Asia-Pacific pharmaceutical markets," said Chief Executive Officer John Graham. "The opportunities presented by this deal will allow both companies to achieve greater success by combining resources."
Ms. Lucia Aleotti, Vice President of the board of Directors of the Menarini Group concluded "We are enthusiastic about this new challenge. It opens up fresh opportunities for expansion into a fast growing area and it will bring new highly skilled competencies to Menarini and, in turn, Invida will get access to the vast resources of Menarini."
About Menarini Group
Menarini is the leading Italian pharmaceutical group in the world and ranks 15th of 4,881 companies in Europe*, 34th of 14,051 companies in the world* with revenue of USD 4.13b (EUR 3.03b) worldwide. The company has 12,890 employees of which 91 percent are college graduates and technicians. Menarini has always pursued two strategic objectives: Research and Internationalisation, both of which have allowed them to achieve outstanding results in today's global market and to invest in the research of innovative drugs, making them available to patients all around the world.
Present in more than 100 countries, The Menarini caters for the needs of patients and physicians in the following therapeutic fields: cardiovascular, gastroenterology, antibiotics and respiratory drugs, products for the treatment of diabetes, anti-inflammatories and analgesics.
About Invida Group Pte Ltd
Invida improves the lives of patients in Asia by commercializing differentiated pharmaceutical and OTC brands – the result of which will allow all Invida stakeholders to prosper. This is done through proven brand marketing and sales know-how, strong expertise across a number of key therapeutic categories and deep experience in all critical Asian markets. Comprehensive functional capabilities provide rapid market access delivered by passionate team of professionals.
With over 3,600 employees in 13 markets in Asia-Pacific, Invida operates across the commercial value chain from regulatory approval and product launch to lifecycle management. We manage a portfolio of proprietary healthcare brands as well as licensed products from small biotech firms and large multinational companies. Partnering is a critical component of Invida's business model. We collaborate closely with our partners in developing effective strategies and put our extensive experience behind maximizing the potential of the assets entrusted to us.