ProStrakan buys Spanish firm Elfar to expand in Spain
Anglo-French drugmaker ProStrakan has acquired the Madrid-based Elfar, in order to grow in the booming Spanish market for drugs for elderly people.
The deal, financial terms of which have not been disclosed, will allow ProStrakan to sell its own drug portfolio, which targets hormone and bone diseases in aging men and in women. Elfar's products treat urological and gynecological ailments.
"There are clear synergies [for the merger]. Elfar has a consolidated sales (45 associates) and commercial network through which ProStrakan will be able to sell its drugs in Spain," which is Europe's fifth biggest health care market, the Spanish company's general manager, Gabriel Perez Cuevas, told the Marketletter.
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