New company to capitalise on industry M&A activity

pharmafile | October 28, 2003 | News story | |   

A new private European pharma company has been launched that will exploit products made available through the spate of industry mergers, acquisitions and corporate refocusing.

Amdipharm, established by Vijay Patel, Chief Executive and co-founder Waymade Healthcare, will acquire products no longer wanted by companies as a result of M&A activity, corporate refocusing or through competition legislation.

The company will initially focus on the UK but has plans to expand into Europe over the next decade. It is actively seeking product and corporate acquisitions, and is also examining licensing opportunities.

"Amdipharm plans to acquire several NCEs and some established brands that could benefit from active promotion", said Bhiku Patel, Co-founder of the company and brother of Vijay. "Initially, we plan to establish a specialist Amdipharm hospital sales force in pain and palliative care. Other therapy teams as well as a GP sales force will be brought on-stream later".

Amdipharm already has several products: anti-emetic Anzamet, sustained release morphine product Morphgesic and post-operative pain/nausea portfolio Diconal, Cyclimorph and Valoid.

Waymade Healthcare, which won the 2001 Entrepreneur of the Year award, is a pharmaceutical wholesaler, with a generics business arm. Amdipharm will use Waymade's existing capabilities in commercialisation, regulation and licensing.

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