Gedeon Richter Purchases Dutch Firm

The Hungarian pharmaceutical company Gedeon Richter Plc. and the Dutch IQ Medical Ventures B.V. have announced on the website of the Budapest Stock Exchange that they signed a Share Purchase Agreement to transfer 100% of the shares of Giskit MD B.V. to Richter from Giskit Holding B.V., the affiliate of IQ Medical.

Giskit MD B.V. is the owner of ExEm Foam® and Gis-Kit assets and patent rights globally, excluding the US, China and South Korea (where they are pharma products). Both women’s health care products are used in more patient-friendly ultrasound examinations, ExEm® Foam for the examination of the fallopian tubes and Gis-Kit for the examination of the uterine cavity.

They have been successfully commercialized for several years in more than 40 countries globally. Giskit MD B.V. was valued at about EUR 30 million by the parties, payable upon signing of the agreement.

Johan F.M. Remmerswaal, Managing Director of IQ Medical, stated that “Richter’s acquisition of Giskit MD B.V. marks a significant milestone in global patient access to Women's Health and Fertility products and procedures. With Richter's expansive reach and dedication to expanding its offerings in this field, patients worldwide can expect a remarkable improvement in accessibility. As IQ Medical the Seller of Giskit MD B.V., we are thrilled about this acquisition and look forward to the collaboration with Richter. Meanwhile, as IQ Medical we remain committed to further develop our portfolio of other innovative products and ventures in Women's Health”.

“The acquisition of this medical device is a perfect fit for the company’s specialty strategy by expanding its in vitro fertilization portfolio,” Gábor Orbán, Richter’s CEO, said. “Reinforcing Richter’s presence in the treatment of infertility proves once again the company’s dedication to medical issues affecting more and more women in our core European markets. We are well on track to become a leading company in Women’s Health by the end of the decade,” he added.