- Uriach has completed the acquisition of two Italian companies, Progine and AR Fitofarma.
- The deal is part of the new Strategic Plan 2018-2022, which speeds up the company’s inorganic growth through international acquisitions.
- Laborest, Uriach’s subsidiary in Italy, will climb the ranks and place fifth in the national food supplement league table.
Barcelona, 21 June 2018.- The pharmaceutical company Uriach has completed the acquisition of two Italian companies specialising in innovative food supplements that are marketed in visits to health professionals. The recent deal is part of the Uriach Strategic Plan 2018-2022, which aims to sustain rapid growth through acquisitions in countries where Uriach already has a presence and in new European markets. For reasons of confidentiality, the figures of the transaction have not been made public.
Progine is a leading pharmaceutical company in the Italian gynecology market. It develops and markets specialist medical aids and devices in this therapeutic area, focusing on enhanced wellbeing for women. AR Fitofarma is one of Italy’s leading food supplement companies, focusing on Pediatrics. The revenue of the two companies is five million euros and seven million euros, respectively. They employ one hundred and thirty people.
The business models of AR Fitofarma and Progine focus on marketing to health professionals. Their goal is to introduce innovative and sophisticated products, always within the field of Gynecology and Pediatrics. The complementarity of their portfolios with Laborest (which has the same business model) was one of the main factors driving the purchase of the two companies.
With these acquisitions, Laborest reinforces its portfolio and its presence in Gynecology and Pediatrics. Currently, the network of Laborest marketers is divided into two areas: the larger team focuses on Neurology/Traumatology and the second team deals with Gynecology and Pediatrics. This second line will be split into two distinct teams specialising in Gynecology and Pediatrics, respectively, driven by the ARF and Progine marketing networks and portfolios. These acquisitions generate strong synergies in the marketing realm and in development and innovation of new products, while allowing Uriach to gain critical mass in Italy’s food supplement market by reaching the top 5 in the national ranking.
Uriach’s plans for the Strategic Plan 2018-2022 are to increase its direct presence in Europe by entering new countries, and to grow in countries where it already has a presence, such as Italy and Portugal. The latest moves are in addition to the deal made earlier in 2018, with the entry into Greece through a joint venture with the leading Greek company Galenica to jointly market Uriach’s portfolio, and the acquisition of Theralab in Portugal last year.
Uriach is making swift progress toward its goal of establishing itself as one of the leading names in the European Consumer Healthcare market, especially food supplements. The company has a large portfolio of innovative and extremely high-quality products, which are marketed through the pharmacy as a strategic channel, with promotion facing health professionals and direct to consumers, with powerful brands such as Aquilea or Fisiocrem, which are already becoming international brands sold in several European countries.
Food Supplements are products based on natural active ingredients and extracts. Uriach produces scientifically based products of high quality and efficacy based on a concentration of natural extracts (and other substances such as minerals and vitamins) with beneficial effects on the body. Supplements can be offered in different forms, such as tablets, capsules, liquids, etc. Worldwide, there is a clear growth trend that far outstrips conventional pharmaceuticals, given the consumer’s preference to seek prevention and treatment with natural alternatives that are equally effective but free of side effects in many therapeutic and disease areas.