Almirall buys Hermal for L255M from RB

Leading Spanish drugmaker Laboratorios Almirall says it has entered into a definitive agreement with consumer conglomerate Reckitt Benckiser to acquire the latter's European prescription dermatology business, Hermal, for a cash consideration of L255.0 million ($518.4 million).

Hermal is based in Germany and generated 101.7 million euros ($140.1 million) in revenues last year, some 60% of which was from the domestic market. As well as substantially increasing Almirall's presence in Germany, it provides new markets for the Spanish firm in the UK and Poland. Additionally, Hermal's products complement Almirall's existing therapeutic areas with a range of dermatology drugs for the treatment of psoriasis, eczema and skin infections and will provide it with access to a specialist R&D team, which now makes up 10% of the unit's 400-strong workforce.