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Sebela acquires US drug firm Braintree


(Stock picture)

(Stock picture)

(Stock picture)

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.

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