Galenica Announces Completion of Relypsa (RLYP) Acquisition
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Vifor Pharma Ltd. / Galenica completes acquisition of Relypsa, strengthening Vifor Pharma's position in cardio-renal therapies . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
- Combination with Relypsa strengthens Vifor Pharma's position as a leading speciality pharmaceutical company, bringing global rights to hyperkalaemia treatment Veltassa®
- Vifor Pharma to build on Relypsa's fully-integrated commercial organisation in key US cardio-renal market by leveraging its extensive and growing specialty portfolio
Galenica Group today announced that it has completed its previously announced acquisition of Relypsa, Inc., (NASDAQ: RLYP). The combination of Galenica's Vifor Pharma business unit with Relypsa will create a significant player in cardio-renal care in the US and further strengthen Vifor Pharma's growing international leadership in cardiology, nephrology and gastroenterology therapies.
Through the acquisition, Vifor Pharma will gain a fully-integrated commercial organisation in the US. With the combination of the commercial assets and best-in-class cardio-renal products of Vifor Pharma, Relypsa and Vifor Fresenius Medical Care Renal Pharma (VFMCRP), Vifor Pharma is positioned to become a major player in the US in its core therapy areas, leveraging its growing specialty portfolio.
"By combining the assets, expertise and commercial strengths of Vifor Pharma and Relypsa, Vifor Pharma is well positioned to become a world-leading specialty pharmaceutical company focused on nephrology, cardiology and gastroenterology medicines," said Etienne Jornod, Executive Chairman of Galenica and Vifor Pharma. "Vifor Pharma's portfolio of specialty products will be further enhanced by gaining full global rights to Veltassa®, an important new treatment for people with hyperkalaemia, and by the ability to increase our visibility with leading nephrologists and cardiologists in the US market. With a first class portfolio of products and rapidly growing global commercial presence, Vifor Pharma is committed to being the partner of choice for patients, clinicians and companies in our core therapy areas."
As stated in May 2016, preparations continue for the division of the Galenica Group into two independent listed companies in 2017. The acquisition of Relypsa affirms the commitment of the Galenica Board of Directors to this strategy, adding further breadth and scale to the Vifor Pharma specialty portfolio.
Update on Vifor Pharma guidance
When Galenica announced the agreement to acquire Relypsa on July 21, 2016, it was expected that Relypsa would be consolidated as of October and the guidance for 2016 was updated on that basis.
However, with the close of the transaction now accelerated to September 1st, 2016, Galenica intends to further update the 2016 guidance during October at the latest.
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