SERB expands presence in UK specialty pharmaceuticals and strengthens its neurology and rare disease franchise with the acquisition of Veriton Pharma
• First acquisition in the UK, substantially increasing SERB’s presence in the UK market
• Enhances SERB’s geographical reach, including a direct commercial presence in the UK, the Middle East and Australia and international distribution network
• Strengthens SERB’s product portfolio addressing critical conditions and rare and life-threatening diseases
20th May 2020 – SERB Specialty Pharmaceuticals (“SERB” or “the Company”), a leading European specialty pharmaceutical group focused on prescription medicines that address rare and life-threatening diseases, today announces the acquisition of Veriton Pharma (“Veriton”), a private pharmaceutical company specialising in the development of licensed and unlicensed medicines for patients with special requirements. Financial details of the transaction were not disclosed.
Headquartered in Weybridge, UK, with offices in the Middle East and Australia, Veriton was founded in 1997 to develop medicines for a targeted range of rare diseases. Today, Veriton focuses on the development of licensed medicines for neurological conditions and rare metabolic disorders, and unlicensed medicines for rare diseases which cannot be treated with existing licensed medicines. The company has a portfolio of more than 60 specialised formulations and supplies its products to over 25 countries worldwide.
Veriton’s focus on specialty critical-care pharmaceuticals, is consistent with SERB’s mission to ensure the continuous availability of life-saving medicines and answer unmet medical needs. The company adds a highly complementary product offering and geographical footprint to SERB, with particularly strong distribution networks in the UK, the Middle East and Australia. Veriton will benefit from SERB’s reach and expertise in Europe to support the launch of its leading product, Epistatus®, a treatment of prolonged, acute, convulsive seizures in children and adolescents aged ten to less than 18 years, recently launched in the UK and registered in continental Europe.
The acquisition of Veriton takes the total number of add-on acquisitions made by SERB to five since November 2017, bringing SERB’s total products to around 80. During this period, SERB has transformed into a true pan-European player with direct presence in nine European countries, which will now be complemented by Veriton’s presence across the Middle East and Australia. SERB has made 50 new hires over the last two years and, following the integration Veriton, the Company’s team will be 110 strong.
Following the transaction, founder and Chairman of Veriton Graham March and the executive team will become shareholders of the combined Group.
Jeremie Urbain, CEO of SERB, commented: “Veriton is a perfect example of SERB’s strategy of complementing strong organic growth with the acquisition of high-quality companies that share our dedication to pharmaceutical products for critical conditions. Veriton shares our DNA, and its expertise and geographic footprint is an ideal addition to the SERB Group. Together we can develop even more essential drugs to help save lives around the world.”
Steve Jones, CEO of Veriton, commented: “We are delighted to join the SERB family and look forward to working together. SERB’s focus on critical care and answering unmet needs is closely aligned with Veriton’s history and approach, and as part of an integrated group we can take our growth to the next level.”
SERB Specialty Pharmaceuticals is a leading pan-European specialty pharmaceutical group, providing globally a reliable supply of prescription medicines to patient suffering from rare and life-threatening diseases.
Following strategic acquisitions and targeted developments, SERB has succeeded in establishing a consistent drugs portfolio focused on niche specialty pharmaceuticals, to ensure continuous availability of life-saving medicines and answer unmet medical needs.
Our commitment is to provide solutions against critical conditions globally and in the long-term.
About Veriton Pharma
Veriton Pharma is a private pharmaceutical company specialising in the development of licensed and unlicensed medicines for patients with special requirements. Veriton is headquartered in Weybridge, UK, with offices in the Middle East and Australia. Since its foundation in 1997, Veriton has developed more than 60 products for a targeted range of therapeutic areas.
For further information, please contact:
Alex Jones, Katarina Sallerfors, Fanni Bodri