On 16th July 2007, Barcelona-based Almirall announced that it had agreed to acquire Hermal from Reckitt Benckiser for £255 million (€376.4 million).
Hermal specializes in dermatological treatments, such as for acne, psoriasis and eczema. The company recorded sales of €101.7 million in 2006 and has a commercial presence in 14 European countries, with Germany accounting for 60 percent of its revenues.
Almirall and Reckitt Benckiser also signed a three-year production agreement. Almirall has stated that it expects to complete the deal by August, pending authorization from the German authorities.
The acquisition reinforces Almirall's pan-European position and establishes the company as a leading player in the European dermatology market.
Prior to the deal, Almirall selected Bridgehead Consulting to undertake an independent commercial due diligence on key elements of Hermal's business.
This required a critical analysis of Hermal's key products and included:
The project was completed to a very tight deadline in order to allow the Almirall management team to review Bridgehead's findings prior to finalising their own view on this important opportunity.
Commenting on Bridgehead's work Stephen Lewington, Snr. Director Global Marketing & Medical Affairs noted:
"We were extremely pleased with Bridgehead's speed and flexibility in meeting our requirements for the commercial analysis of this important strategic transaction"
Bridgehead International is a leading biopharmaceutical consultancy group, offering a range of services designed to assist clients in achieving extraordinary growth across the product and technology value chain, through three divisions:
Bridgehead Consulting has two principal practice areas:
With over 50 consultants and associates in Europe, North America and Asia, Bridgehead Consulting provides a powerful combination of strategic, scientific, medical, technical, commercial, economic, decision support, modelling and intellectual property skills and experience.