SIFI, the Italian leader in ophthalmology, is pleased to announce the acquisition of Dacudoses® and Novoptine®, leading ophthalmic antiseptic brands in France with a total turnover of about € 6 million, from Laboratoire Gifrer Barbezat.
Dacudoses® is the leading reimbursed RX brand of the French ophthalmic antiseptic segment, prescribed by ophthalmologists and general practitioners. Dacudoses® is commonly used as an eyewash in case of light conjunctivitis and/or infections, benefitting from a very strong brand recognition in France.
Novoptine® is an OTC antiseptic collyrium used to treat eye infections and conjunctivitis.
SIFI will market directly both products through its subsidiary SIFI France S.A.S. from January 2020. The reference market segment is expected to grow due to increased incidence of eye disorders, such as bacterial and allergic conjunctivitis.
According to the Ocular Surface Infections Guidelines by AFSSAPS (Agence Française de Sécurité Sanitaire des Produits de Santé), non-serious bacterial conjunctivitis in adults, in the absence of risk factors, should be treated by washing the eye with saline solution associated with antiseptic solutions instead of using antibiotics.
"This strategic deal represent a significant milestone for our company, being the first acquisition made since our foundation, and will accelerate our penetration into France, one of the largest and most competitive markets in Western Europe." declared Fabrizio Chines, Chairman and CEO of SIFI "Dacudoses® and Novoptine® are very complementary with our proprietary portfolio, which we expect to launch through SIFI France starting from 2020, in line with a well-balanced regulatory, market access and marketing strategy.".
“SIFI is an example of excellence in our portfolio that we are proud to support in its international expansion” commented Alessandro Benetton, Founding Managing Partner of 21 Invest. "This operation is strategic to reach its ambitious goal of creating a leading company in the international ophthalmic market".
Funding for the acquisition, along with other refinancing facilities, was provided by a consortium of banks including Banco BPM S.p.A., who also acted as Agent, Mediocredito Italiano S.p.A. (Intesa San Paolo Bank’s Group), Mediocredito Centrale – Banca del Mezzogiorno S.p.A., Banca IFIS S.p.A., Credito Valtellinese S.p.A. and BPER Banca S.p.A.