Lundbeck acquires French drug manufacturing firm  

Lundbeck takes another step into the French market through acquisition of Elaiapharm
In August we reported on this website that Danish pharmaceutical company Lundbeck has gained significant market share in France in the last three years following a restructuring of its sales operation. Now comes news that Lundbeck is building its stake in the market with the acquisition of French company Elaiapharm, which manufactures and packs drugs for international pharmaceutical companies. The news is reported by national daily newspaper Berlingske Tidende.
The take-over will provide Lundbeck with production and packaging facilities that will complement its pharmaceutical production in Denmark. Elaiapharm has been a sub-contractor for Lundbeck for a number of years.
Lars Bang, executive vice president of Lundbeck says in a press release: "Through our many years of collaboration, we have come to know Elaiapharm as a competent and stable business, and we are pleased to complete this transaction. The acquisition will provide many key benefits for all aspects of our global production."
Elaiapharm employs 130 people and generates annual revenues of approximately DKK 100m (USD 19.8m). The company will continue its operations as prior to the acquisition including manufacturing and packaging for other pharmaceutical companies than Lundbeck.
Lundbeck was founded in 1915 in Copenhagen by Hans Lundbeck. The company specialises in  pharmaceuticals targeted at central nervous system disorders including depression, anxiety, schizophrenia, Alzheimer's disease and Parkinson's disease. Lundbeck employs about 5,500 people worldwide.
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