Florence, 15th November 2011
Singapore – Florence 15th November 2011: Menarini succeeds in bid for Invida Group
Singapore, Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, South Korea, Taiwan, Thailand, The Philippines, and Vietnam: these are the nations into which the Florence-based Italian multinational Menarini shall now be expanding following its acquisition of Invida Group Private Limited of Singapore from Temasek Holdings (an Asian Investment company headquartered in Singapore), Quintiles (a U.S. bio and pharmaceutical services provider) and Zuellig (an Asian leading healthcare distributor).
Invida Group is one of the leading pharmaceutical companies currently operating in the Asia - Pacific region, an area which represents 10% of the world’s pharmaceutical market with a 20% annual growth rate. With an annual turnover exceeding USD 220 million (EUR 160m), 3,500 employees and a consolidated presence in extremely important therapeutic areas, Invida is considered by Menarini to be the ideal company to act as gateway to many of the most significant emerging countries with the world’s highest growth rates.
The development plan foreseen by Menarini for the Invida Group underscores how Menarini in all its acquisitions has always opted to maximise local identity, culture and skills hence guaranteeing Invida, and its professionals, a future built around a dynamic and entrepreneurial vision.
“We have been committed to the prospect of acquiring Invida over the past few months”, commented Alberto Giovanni Aleotti, who, alongside the company’s General Manager, Piero Corsa, headed the Menarini task force engaged in the negotiations. “Once again, our team has worked with extraordinary dedication and I would like to take this opportunity to thank each and every team member.”
Dr. Aleotti added, “We look forward to gaining first-hand experience of the great vitality this region brings. It is a place where one can find a true concentration of highly skilled professionals and companies, thanks to the Singaporean Government’s policies that support business growth and innovation”.
“In Invida, we have found the “Menarini of Asia”, and a team of executives who possess exceptional competencies,” commented the two General Managers at Menarini, Piero Corsa and Domenico Simone, highlighting the great potential and opportunities behind this acquisition. “Invida will become Menarini’s Asia-Pacific headquarters, located in Singapore. It is ideal since it provides a bridge between Europe and Asia. Our goal is to provide patients in the Asia Pacific region access to our medicines.”
“This acquisition enables Invida to continue to grow our company as the commercialisation specialist in the Asia-Pacific pharmaceutical markets,” said Invida Chief Executive Officer John Graham. “The opportunities presented by this deal will allow both companies to achieve greater success by combining resources.”
Mr. John Graham, Chief Executive Officer of Invida will continue to lead the Asia Pacific operations.
Lucia Aleotti, Vice President of the Board of the Menarini Group concluded: “We are enthusiastic about this new, exciting opportunity. It opens up fresh prospects for expansion into a fast growing area, and it will bring new highly skilled competencies to Menarini and in turn, Invida gets access to the vast resources of Menarini”.
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