Pharmaceutical company STADA is expanding its consumer healthcare business in the MENA region with the acquisition of FITO from LEO Pharma.
The medical device is based on the wheat extract Rigenase (Damor Farmaceutici, Italy) and is indicated for the dermatological treatment of first- and second-degree burns, ulcers, wounds and abrasions. The herbal origin has a high safety profile and forms a protective barrier against the external environment.
The acquisition includes the takeover of the existing business in the markets of Egypt, Kuwait, Oman, Saudi Arabia and the UAE. Other key markets are Algeria, Bahrain, Iraq, Kenya, Lebanon, Libya, Mauritius, Morocco, Pakistan, Palestine, Qatar, Tunisia and Yemen.
STADA EVP Stephane Jacqmin Emerging Markets, said: “We look forward to leveraging our local marketing and sales strength to develop the full potential of this strong brand in the many markets of the MENA region. This will strengthen STADA’s role as the partner of choice in consumer healthcare and support our growth in the region.”
In addition to this acquisition, STADA MENA has also entered into a supply and distribution agreement with Farmaceutici DAMOR S.p.A, Italy.