Solvay completes acquisition of Fournier Pharma
Solvay announced that it has completed the acquisition of 100% of Fournier Pharma, following the successful completion of social and regulatory procedures worldwide. The process of integrating Fournier Pharma and Solvay Pharmaceuticals will begin with the creation of a number of Integration Teams whose task will be to identify the best operational solutions for combining all activities. A complete analysis of Fournier Pharma's structures is planned over the upcoming 12 months in order to prepare the deployment of the future organization within Solvay Pharmaceuticals.
Solvay has appointed Coos de Graaf as General Manager of Fournier Pharma in replacement of Pierre Moustial. He will also lead the integration project. Pierre Moustial will support Coos de Graaf in his new role, until December 31, 2005.
Fournier Pharma which is a global leader in fenofibrates, adds a strong and unique product line in dyslipidemia (i.e. control of cholesterol and triglycerides) to Solvay's cardiology business and research pipeline. Fournier Pharma's other smaller fields of activity include gynecology, gastroenterology and psychiatry - which match Solvay's other therapeutic choices.
As a consequence of the transaction, Fournier Pharma's finances will be consolidated into Solvay Pharmaceuticals commencing August 1, 2005. The transaction will expand Solvay Pharmaceuticals' business by more than one third in terms of sales and immediately enhance the Solvay Group's profitability.
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