Strategic alliance with Ascendis Health

Remedica, the leading generics pharmaceutical manufacturer of Cyprus, today announced the signing of an agreement for the acquisition of 100% of its shares by Ascendis Health, an international company listed on the Johannesburg stock exchange of South Africa.
As part of this development, Remedica will integrate the Ascendis Pharma-Med division and will become an integral part of a stronger, international pharma player. With its diversified portfolio of products, markets and customers, strong pipeline of new products and synergies with the Ascendis business in South Africa and Spain, Remedica is well positioned to deliver strong growth in the future based on this platform.
We believe that in a fast-changing environment for the global generics industry, this development will greatly assist to secure the future of Remedica as a manufacturer of high quality branded generic medicines and will provide funding to embark onto its new phase of development. Remedica will also play a central role in the global Ascendis pharmaceutical development strategy.
Remedica’s CEO, Mr. Charalambos Pattihis, who will remain at the helm of the company along with the existing executives, with full operational control, stated: “Our goal was, is and remains the sustainable development of Remedica and for that reason I can assure you that under the new umbrella we will not only continue the outstanding progress of the company, but we will thrive and achieve even more impressive results”.