Wednesday 21 November 2018

Sebela acquires US drug firm Braintree

(Stock picture)
(Stock picture)
John Mulligan

John Mulligan

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.

Irish Independent

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