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, a 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  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”.