Neuraxpharm expands European footprint with Farmax buy

Neuraxpharm expands European footprint with Farmax buy
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Neuraxpharm Group is expanding its pan-European footprint with the acquisition of CNS speciality pharma company Farmax from SVUS Pharma for an undisclosed amount.

Located in Hradec Králové, Czech Republic, Farmax was the commercial division of SVUS Pharma, and has a strong distribution presence in the Czech Republic, Slovakia as well as a small presence in Hungary.

Farmax sells and markets both branded and non-branded generics pharmaceuticals for central nervous system disorders (CNS) disorders such as Zolpinox.

It also commercializes well-known OTC nutraceuticals such as Preventan and Maxicor.

Farmax has been renamed Neuraxpharm Bohemia and will commercialize its products under the Neuraxpharm brand.

Leveraging its proprietary sales force in the Czech Republic, Slovakia and Hungary, Neuraxpharm Bohemia said it plans to quickly offer new and differentiated products to local patients and healthcare providers based on the group’s broad CNS portfolio.

Jörg Thomas Dierks, CEO of Neuraxpharm, said: “We truly believe that this acquisition will strengthen our leading position in the European CNS market and provide us direct access to the Central and Eastern European (CEE) markets with our own sales force.

“Entering the CEE region is one of the pillars of the Neuraxpharm strategy as these markets offer an attractive growth potential.”