CMS has advised Zentiva Group a.s. on its acquisition of Romanian pharmaceutical company Solacium and its subsidiary Be Well Pharma from Siyiara Enterprises — a holding entity of A&D Pharma / Dr. Max Group — and entrepreneur Tony Trasca. The Czech Republic's Evan Law Firm advised Siyiara and Romania's Fine Law advised Trasca on the sale, which remains contingent on the satisfaction of several conditions, including the approval of the Romanian Competition Council.
Zentiva is a European producer of both branded and generic medicines with flagship sites in Prague and Bucharest.
Nick Haggar, CEO of Zentiva, declared that: “Zentiva is delighted to confirm the signing of its first acquisition following the carve-out from Sanofi in the last quarter of 2018. Solacium complements our existing generic medicines business and grows our OTC capability and offering for patients and consumers in Romania.”
“After Dr. Max’s acquisition of A&D Pharma Group, we have decided to primarily focus on three main pillars of our Romanian business: pharma retail, wholesale and marketing & sales," explained Leonardo Ferrandino, President and Group CEO of Dr. Max. "Although Solacium is a fast-growing food supplement and OTC medicines producer, we believe that under the management of a specialized and successful pharmaceutical company such as Zentiva it can fulfill its potential and significantly boost its business beyond current levels”
CMS's team was led by Sofia-based Partner David Butts and Bucharest-based Partner Horea Popescu, with support from Prague-based Senior Associate Lucie Halloova and Bucharest-based Senior Associates Raluca Ionescu, Claudia Nagy, and Valentina Parvu, and Bucharest-based lawyers Bogdan Buta and Cristina Ciomos
The Evan Law Firm team was led by Partner Jan Evan, working with Lawyer Denis Michon.
The Fine Law team was led by Partner Iulian Patrascanu.