Argentine firm HLB Pharma led by Hernán López Bernabó has acquired the Rontag line from British-Swedish multinational AstraZeneca for close to ten million pesos.
Argentine firm HLB Pharma led by Hernán López Bernabó has acquired the Rontag line from British-Swedish multinational AstraZeneca for close to ten million pesos (USD 1.14 million)
The line of 26 oncology products will pass to the Argentine firm, including the flagship Yectafer brand of folic acid, although only in tablet form.
Some of the other brands affected are Ronistina, Azatioprina, Naprontag, Arlemide and Axokine.
The agreement, confirmed to Pharmabiz by both parties, involves the transfer of brands and registrations to the name of Pharma San Isidro, part of the HLB group.
The amount of the transaction will be paid in convenient installments, taking account of the fact that HLB is undergoing a debt restructuring plan.
HLB was clearly the best candidate for the purchase because the firm has been manufacturing Rontag lines for AZ since it was acquired.
However, it was not the only third party involved, since Carbamat was produced by Pfizer, and the line of vaginal suppositories by Elea.
Why has AZ let the line go? Sources within the company told Pharmabiz that the sale “was due to a decision to discontinue the company’s branded generics business across the world.”