Karo Pharma divests brand portfolio to Evolan Pharma
Karo Pharma AB (“Karo”) today announces the divestment of a portfolio consisting of 12 brands to Evolan Pharma AB (“Evolan”). The transaction is effective per today, July 1[st], 2021.
Following the acquisitions of recent years, Karo has carried out a strategic evaluation of its products in order to streamline and optimize its commercial portfolio. As an outcome of that evaluation, 12 brands (Citodon, Morfin Special, Sincon, Bamse, Oliva, Karbasal, Complete, Nazamer, Ferromax, Tussin, Samin and Conotrane) have been identified, which are not in line with our growth strategy. Subsequently, Karo has run a formal, competitive process in which several external parties have evaluated the portfolio. Karo is pleased to announce that this process is now completed and that we have found a new strong and very suitable owner for the portfolio in Evolan, a Swedish pharmaceutical company focused on product development, sales, and marketing of pharmaceuticals.
The portfolio had a turnover of SEK 62 million in 2020 with a growth of -4% versus the previous year. The divestment completes the efforts to refine and optimize Karo’s portfolio after the acquisitions done over the last few years.
For further information, please contact:
Christoffer Lorenzen, CEO, +4673-501 76 20, email@example.com
Carl Lindgren, VP Business Development, +4676-002 60 22, firstname.lastname@example.org
About Karo Pharma
Karo Pharma delivers smart choices for everyday healthcare. We own and commercialize branded, original over-the-counter products and prescription medicines. Our products are available in more than 60 countries, with Europe and the Nordic region as our core markets. Karo Pharma is headquartered in Stockholm, Sweden and listed on Nasdaq Stockholm Mid Cap.
The information was submitted for publication by the contact persons set out above, at 11.00 CET on 1 July 2021.