Galen sells UK businesses

Speciality pharmaceutical company Galen Holdings has sold its UK pharmaceutical product sales and marketing business for £40m (€59.8m).

The Northern Ireland based pharmaceutical company sells a range of pharmaceutical products in the UK and Ireland, including Kapake, an analgesic, Regurin for incontinence and Loestrin, an oral contraceptive.

Meanwhile, Galen has also announced the sale of its sterile fluids solutions business for £2.5m (€3.7m) plus working capital.

The purchaser of the Ivex Business is Gambro BCT, a company headquartered in Lakewood, Colorado, USA. Gambro BCT is a world leader in blood bank technologies, automated blood collection and processing, pathogen reduction techniques and value-added blood and cell based therapeutic services.

Commenting on the disposals, Galen chief executive Roger Boissonneault said: "For some time now we have indicated that we intend to focus our business primarily on the US market where we have enjoyed excellent growth in recent years.

“We no longer see the UK and Irish markets as core and are pleased to sell these businesses to new owners who intend to develop them forward. We wish all those involved in these businesses every success in the future."