Karo Pharma divests Hydrokortison Trimb to Evolan Pharma
As previously communicated, Karo Pharma Aktiebolag (“Karo Pharma”) voluntarily and within a certain time undertook to divest Hydrokortison Trimb and all intellectual property rights and assets relating thereto, including necessary licenses and permits as well as existing stock, to an external buyer approved by the Swedish Competition Authority (the “Competition Authority”). This was part of the closing conditions for the acquisition of Trimb Holding AB (“Trimb””) in September 2019. During the financial year 2018, the total sales of Hydrokortison Trimb amounted to SEK 19.8 million.
Karo Pharma has entered into an agreement to divest Hydrokortison Trimb and the intellectual property rights and assets relating thereto to Evolan Pharma AB (“Evolan”), a Swedish pharmaceutical company focused on product development, sales and marketing of pharmaceuticals. The Competition Authority approved Evolan as the buyer of Hydrokortison Trimb on 27 November 2019. The divestment of Hydrokortison Trimb to Evolan is expected to close on 29 November 2019.
For further information, please contact:
Christoffer Lorenzen, CEO, +4673-501 76 20, email@example.com
Carl Lindgren, VP Business Development, +4676-002 60 22, firstname.lastname@example.org
The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CEST on 27 November 2019.
About Karo Pharma
Karo Pharma is a pharmaceutical company specialised in sales and marketing of prescription pharmaceuticals and over-the-counter products sold in pharmacies and retail. Karo Pharma is listed on Nasdaq Stockholm Mid Cap.