Arrow Pharmaceuticals has acquired the Australian retail pharmacy business of US generics major Amneal Pharmaceuticals
The acquisition, completed on 31st August 2017, cements Arrow as Australia’s fastest growing generic pharmaceutical company, it says.
“The acquisition of Amneal Australia Ltd further expands our customer footprint and adds some leading products and services to Arrow’s portfolio,” says Chairman of Arrow Pharmaceuticals Dennis Bastas.
“We have been fortunate to have experienced strong organic growth across our primary customer base within both our generic prescription medicines and Chemists’ Own portfolio.
“Bringing Amneal’s customer base into our network of supporting pharmacies further accelerates this current growth and strengthens the offering we bring to all our customers.”
Amneal Pharmaceuticals commenced operations in Australia in 2014 and established a comprehensive product offering before acquiring the Australian Actavis business in 2015.
Its assets include generic prescription medicines and branded OTC products.
Current CEO of Amneal Pharmaceuticals Australia Gavin Upiter says, “Amneal has a loyal customer base supported by our diverse generic pharmaceutical range and our innovative value solutions.
“The Arrow acquisition will bring a broader range of products to our existing customers and allow Arrow to deliver new services to its current extensive customer base.”
Dennis Bastas says, “The current Amneal customers will not see any disruption in their service offering and both groups of customers can look forward to benefits via a more comprehensive product and service offering.
“An acquisition of this nature will provide a more sustainable and scalable partner to all existing Amneal customers along with adding new products and services to those currently aligned to the Arrow business.”