Tillotts Phama is Aquired by Zeria Pharmaceutical
The Japanese company, Zeria Pharmaceutical Co., Ltd. (“Zeria”) and the Swiss Tillotts Pharma AG (“Tillotts”) are pleased to announce that on September 1st 2009 Zeria has completed the acquisition of Tillotts. As a result of a shareholders meeting followed by board of Directors meeting on the same day, the change of control was approved and the new board of directors were selected and appointed as follows.
Mr. Sachiaki Ibe, Chairman
Mr. Thomas Toth, Chief Executive Officer
Mr. Haruyuki Takeuchi, Director Prof. Ulrich Mittmann, M.D. Director (Non-Executive)
Mr. Shigeya Furuhata, Director (Non-Executive)
Tillotts will continue to operate under its prior management from its former corporate offices in Ziefen, near Basel. In order to facilitate future synergies and growth, Mr. Haruyuki Takeuchi, Member of Zeria’s Board of Directors will join Tillotts as Corporate Alliance Director and Member of Tillotts Board of Directors.
With the acquisition of Tillotts, Zeria will expand its geographic scope to over 50 countries, in which Tillotts is selling its flag-ship brand Asacol®. “The acquisition will allow Zeria to use Tillotts’ network as a base for further expansion throughout Europe and the Middle East” says Mr. Ibe of Zeria. ” Tillotts will in conjunction with Zeria continue expanding its presence in Europe, the Middle East and the rest of Asia by establishing either own subsidiaries or through marketing alliances and collaborations or a combination thereof”. says Tillotts’ Chief Executive Officer, Thomas A. T6th von Kisker. “With our strong Gastrointestinal product portfolio we now seek new complementary in-licensing and co-promotion opportunities”, says further Mr. T6th von Kisker. Tillotts already markets its brand, Asacolon®’ through its Irish subsidiary that was founded in 2005. Recently, Tillotts has repatriated the marketing rights to Asacol® throughout the Nordic territories and currently markets the brand through its newly established Affiliate, Tillotts Pharma AB, in Stockholm. “Asaco~ is the world’s leading pharmaceutical brand for the treatment of Inflammatory Bowel Disease (Source IMS, A7E) and is market leader in all the Nordic countries (Finland, Sweden, Denmark, Norway & Icelandr , says, Mattias Norrman, General Manager of Tillotts Pharma AB.
Asacol® (mesalazine) is a safe and efficacious drug for the treatment of Inflammatory Bowel Disease (IBD) and is the world’s leading pharmaceutical brand for the treatment of IBD, having a global market share of 31% (Source IMS: A7E, MAT 12/2008). In recent years, Tillotts has launched the higher strength Asacol® SOOmg tablet in many of its European markets to complement the original 400mg product and is actively developing a 1200mg line extension. In 2004, Zeria in-licensed Japanese rights to Asacol® from Tillotts. In Japan, the product was initially developed for ulcerative colitis. On 28th August 2009, the First Committee on Drugs of the Council on Drugs and Food Sanitation in Japan has recommended the approval of Zeria’s Asacol® for ulcerative colitis. Product launch is scheduled in December 2009. Fro Crohn’s disease, co-development together with Kyowa Hakko Kirin is currently underway.
Edgemont Capital Partners (New York, USA) and IMI Consulting GmbH (Hannover, Germany) have acted jointly as Tillotts’ financial advisor.
At Edgemont Capital Partners
David K. Blume, Managing Director
Phone: 212-867-8935 Fax: 212-214-0911
Jeff B. Swearingen, Managing Director
Phone: 212-867-8935 Fax: 212-937-3816