Sebela acquires US drug firm Braintree
Sebela Pharmaceuticals, a US-headquartered drug developer with a significant presence in Dublin, where its chief executive is based, has acquired Massachusetts firm Braintree Laboratories.
The purchase marks a major expansion for Sebela, and will boost revenue at the combined group to about $250m (€209m) per year.
With Sebela Ireland having generated sales of $46.7m in 2016, Braintree Laboratories will be contributing to the bulk of the combined group's revenues.
Braintree develops, manufactures and markets specialty pharmaceuticals in gastroenterology. It has some market-leading products in the segments within which it operates, and a "rich near-term pipeline of gastrointestinal products", according to Sebela.
Sebela, which is privately owned and focuses on gastrointestinal, dermatology and women's healthcare, recently secured a $316m (€264.5m) term loan from BipPharma Credit and co-investors.
In 2014 Sebela paid $49.7m (€41.6m) to acquire Miacalcin, an injectable drug for hypercalcemia, from Novartis.
Sebela sold the drug the following year to Mylan for $348.7m (€292m).
Sebela's chief executive is Alan Cooke. He has previously held roles including the chief operating officer at Amarin.
He was also the vice president of global strategic planning at Elan.