Mundipharma Pty Limited (Mundipharma) is continuing to grow and diversify with today’s acquisition of Tolmar Australia Pty Limited (Tolmar Australia), including exclusive distribution rights for the oncology medication Eligard® (leuprorelin acetate) in Australia and New Zealand. The deal follows several months of comprehensive due diligence and negotiation.
“We are delighted to be acquiring Tolmar Australia,” said Jane Orr, Managing Director of Mundipharma Australia and New Zealand.
“Through the due diligence process we have developed a strong understanding of the business, its products and their importance for patients.”
“The addition of Tolmar Australia’s products complements Mundipharma’s existing portfolio and growing range of oncology medications,” Ms Orr said.
The deal includes the exclusive distribution rights in Australia and New Zealand for Eligard®, a hormonal therapy used for the management of advanced prostate cancer.
“Prostate cancer is the third most commonly diagnosed cancer in Australia, with one in seven men expected to be diagnosed before the age of 85,” Ms Orr said.
“It is also the third most common cause of cancer death, so I am very proud to be adding a uro-oncology product to our portfolio.”
The new portfolio also includes distribution rights in Australia for Bi Eligard® cp combination therapy, which is an Eligard® subcutaneous injection combined with Bicalutamide Tolmar 50mg tablets.
Mundipharma has strong growth targets and part of its growth strategy is acquiring profitable businesses and products. The acquisition of Tolmar Australia demonstrates Mundipharma’s commitment and capacity to invest in its long term future, which will benefit patients, customers and partners.
The company has already diversified to include a range of effective products in therapeutic areas including pain, oncology, ophthalmology, respiratory and first aid.
“Tolmar products are an excellent fit for Mundipharma and we are looking forward to this next stage for our company.”
The integration process is already underway and Mundipharma will ensure continuous access to its products for patients and healthcare professionals.
“In 2015 we set ourselves an ambitious growth target. We will continue to develop a culture to support the delivery of our business goals in an increasingly competitive and changing environment,” Ms Orr said. “Our ongoing agility, and ability to make change is crucial to business growth and success.”