Subjects: TNM, CXP
European CNS Specialist Neuraxpharm Strengthens Expansion into Austrian Market with Acquisition of easypharm
LANGENFELD, Germany, Jan. 23, 2020 /PRNewswire/ -- Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on central nervous system (CNS) disorders, today announces the expansion of its operations in Central Europe with the launch of Neuraxpharm Austria, and the acquisition of Easypharm OTC GmbH, a privately-owned Austrian Consumer Healthcare company.
Headquartered near Vienna, easypharm focuses purely on Consumer Healthcare via, among others, its two leading CNS brands, easysleep® and easyrelax®. easypharm currently sells and distributes in Austria with its own highly experienced sales force company Frank & Co, covering more than 70% of Austrian pharmacies. The easypharm management will be retained by Neuraxpharm to provide business continuity.
The leading product, easysleep®, for the treatment of insomnia with its unique combination of melatonin, valerian and hop is at the forefront of the Austrian over-the-counter (OTC) sleep aid market with several unique preparations in the form of tablets, spray and tea. easyrelax® reduces stress, nervous tension and restlessness.
Through the acquisition of easypharm, Neuraxpharm will further strengthen its capabilities in the fast-growing Consumer Healthcare market in Europe while continuing the company's geographical expansion. Both the expansion and acquisition are in line with Neuraxpharm's outlined strategy, reinforcing its position as a CNS specialist in Europe.
The acquisition of easypharm will support Neuraxpharm's first commercial launch in Austria of its own probiotic product NeuraxBiotic Spectrum®, a "psychobiotic" that modulates the gut-brain-axis.
Neuraxpharm's Austrian operations will become part of the company's Central European region that currently includes Germany and Poland. It will be headed up by Dr. Olaf Krampe, Neuraxpharm's Head of the Central European Region and current General Manager of Neuraxpharm Germany, with over 20 years of experience in the pharmaceutical industry.
The transaction announced today follows acquisitions in the last year of other Consumer Healthcare companies, S.T.U. GmbH in Switzerland and Farmax in the Czech Republic, resulting in Consumer Healthcare becoming a significant part of the Neuraxpharm business, accounting for 10% of revenues growing at 45% year on year.
Dr Jörg-Thomas Dierks, Chief Executive Officer of Neuraxpharm, said: "This acquisition is another step in our strategy to expand our CNS capabilities across Europe. easypharm offers not only an established foothold in the market for branded Consumer Healthcare products, but also provides Neuraxpharm with a strong commercial network for the roll out of our existing Consumer Healthcare and Value-Added prescription brands within Austria. We look forward to welcoming the easypharm team into Neuraxpharm and to working with them to grow the business."
Commenting on the transaction, Dr Erwin Klein and Mag Johannes Schwertner, Co-Founders and Managing Directors of Easypharm, said: "easypharm has built a strong product portfolio and brand in Austria. We are delighted that easypharm has become part of Neuraxpharm's network and hope this will support Neuraxpharm to become an even stronger player in the European CNS market."
The terms of the transaction were not disclosed.
About Neuraxpharm ? the European CNS specialist
Neuraxpharm is a leading European specialty pharmaceutical company focused on the treatment of central nervous system disorders (CNS), with a direct presence in Germany, Spain, France, Italy, Czech Republic, Switzerland, Slovakia, United Kingdom, Poland, Hungary, Portugal and now Austria. Backed by funds advised by Apax Partners, Neuraxpharm has a unique understanding of the CNS market built over 30 years.
With its focus on CNS, Neuraxpharm develops and commercializes value added medicines, standard generics and Consumer Healthcare products, e.g. probiotics and other nutraceuticals, and is continuously striving to offer a wide range of effective, high quality and affordable CNS treatment options in Europe.
Present with its products in more than 50 countries, Neuraxpharm also manufactures pharmaceutical products and active pharmaceutical ingredients from its own manufacturing sites in Spain, Inke and Lesvi.
Austria is the 10th largest country within the European Union's CNS Pharmaceuticals market, a market estimated to be worth ?560 million. Neuraxpharm has expanded its presence in 8 additional countries within the last 12 months and Austria is now the 12th European market in which Neuraxpharm has a direct presence.
To learn more about Neuraxpharm, please visit: https://www.neuraxpharm.com
About easypharm
Based in Gießhübl (Vienna), Austria, Easypharm OTC GmbH was launched in 2008 by Dr. Erwin Klein and Mag. Johannes Schwertner, two experienced pharmaceutical executives. Starting as a generic and OTC business, easypharm is today fully focusing on the Consumer Healthcare business and distribution in Austria with its affiliated sales force company Frank & Co.
Major products are the easy brands, a brand portfolio which comprises currently 9 products, with easysleep® as the leading brand. The easypharm business model includes the development and launch of new products and line extensions.
For easypharm please visit: https://www.easypharm.at
SOURCE Neuraxpharm
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