Salvim LLC, a Russian pharmaceutical company, announced the sale of the rights for Oralsept product line to an international pharmaceutical company Gedeon Richter Plc.
Novus Capital acted as a financial advisor in the transaction on the side of Salvim LLC and organized a wide auction process among more than 140 potential strategic buyers, of which 17 companies expressed interest in the product. As a result of negotiations in November 2019, Selvim LLC and Gedeon Richter Plc signed an agreement to sell Oralsept product line.
According to the terms of the transaction, Gedeon Richter Plc. acquires all intellectual property rights, including the trademark for Oralsept brand, marketing authorisations, distribution and promotional rights for all product forms: spray, solution and tablets. Gedeon Richter Plc. uses available cash to finance the transaction.
Oralsept (INN Benzydamine) is used for the symptomatic treatment of inflammatory diseases of the oral cavity and ENT organs. Oralsept spray is in TOP 10 sprays and aerosols for the sore throat in the Russian Federation in value and in volume (Source DSM Group, 2018). In 2018 the revenue of Oralsept product line amounted to 230 million rubles (approx. 3.7 million USD) in Russia (Source DSM Group). The transaction is expected to be closed before the end of 2019. Gedeon Richter Plc. uses available cash to finance the transaction.
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