Swiss Acino buys Litha Healthcare
SWISS pharmaceutical company Acino announced that it has acquired South Africa’s Litha Healthcare for an undisclosed amount.
Litha provides services and products to public and private hospitals, pharmacies, general and specialist practitioners, as well as government law enforcement programmes.
Litha is also part of Endo International, a global speciality pharmaceutical company, focused on improving patients’ lives, while creating shareholder value.
Acino chief executive Kalle Känd said the acquisition would enable Acino to entrench its footprints in the African market.
“We have chosen Litha as they have a strong position in the market and a solid reputation in several therapeutic areas that are strategic for Acino. With its well-established product pipeline and its long-standing relationships with licensing partners, Litha offers very promising prospects for the future,” said Känd.
Litha will provide Acino with immediate access and a strong presence in the South African market, which is key for Acino to become a significant player in Africa.
Acino will bring advanced healthcare products and expertise to South Africans.
Litha’s existing product portfolio comprises nearly 100 offerings focusing on primary care, largely through originator products, and speciality care, partly through generic products. Litha’s forensic business provides the SAPS with DNA evidence collection and crime-scene kits.
Litha is set for growth as it has a strong pipeline of 124 products that are expected to be launched within the next five years. Acino plans to complement the portfolio by launching a selection of their existing products in South Africa in the upcoming years.
Litha managing director Guillaume van Niekerk said: “We look forward to joining Acino as we continue to add value to our customers and positively impact patients’ lives. The synergies between the organisations will further support our vision of being one of the top 10 pharma companies in South Africa.”
Acino’s confidence in South Africa and Litha’s strong position in the market bode well for this collaboration that aims to maintain and further grow the pharmaceutical business in South Africa.