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Pharmathen sells its commercial operations in Greece to focus exclusively on international markets

Amsterdam, 30/11/2017: Pharmathen, a BC Partners portfolio company, announces the sale of its Greek commercial operations as part of its long-term strategy to become a leader focused on the development of innovative and complex pharmaceuticals.

The Greek operations will be carved out and acquired by a consortium of investors, led by Pericles and Petros Vassilopoulos, and the existing local management team in Greece. Pharmathen will retain its name and the sold operations will be subsequently re-branded.

Once the transaction closes, Pharmathen will be fully focused on the development and out-licensing of differentiated and innovative pharmaceuticals. As part of that strategy, Pharmathen has successfully passed an FDA audit of its Sapes-based oral solids and injectables facility. This will allow Pharmathen to produce and market its products in the U.S. for the first time, which is the largest pharmaceuticals market globally. Pharmathen is a front-runner and has developed a portfolio of innovative products, including a number of Long Acting Injectables, which will accelerate its growth in the U.S. and globally.

Nikos Stathopoulos, Managing Partner at BC Partners, said: “This transaction completes the next step in our strategy for Pharmathen. Pharmathen, now based in Amsterdam, is 100% dedicated to its international markets. It will continue to invest significantly in the research, development, production and marketing of innovative and complex pharmaceuticals and technologies for the U.S. market and the 85 countries its products are already sold into globally”.

Mr. Pericles Vassilopoulos, who will lead the new enterprise in Greece, said: “We are happy to finalize the agreement. We are a group of dynamic entrepreneurs, with many years of experience in the pharmaceuticals market and we strongly believe in the long-term potential of the new company”.