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Zentiva Generics Company Intelligence Report
Espicom Business Intelligence Ltd, Oct 2009, Pages: 14
Zentiva was created through the merger of the Czech company, Léciva, and the Slovak firm Slovakofarma, which was completed in August 2003. The two former companies began selling products under the Zentiva name from the beginning of September 2003.
Zentiva specialises in the development of generics, and holds leading market positions in both the Czech and Slovak Republics. Outside of these two home markets, Zentiva’s most important markets are those of Central and Eastern Europe, and in particular Poland, Romania, Russia, and since 2007, Turkey. The company is establishing new businesses in other territories, including Lithuania, Latvia, Bulgaria and Ukraine.
Zentiva reported sales worth CZK18,377.9 million (US$1,087.4 million) in 2007, up 10.3% over 2007. The increase was driven by the consolidation of Zentiva’s Turkish business. However, net profit fell by 30.4% to CZK1,013 million (US$59.9 million).
Zentiva is now owned by sanofi-aventis. In March 2006, sanofi-aventis acquired a 24.9% stake in Zentiva. The shares were purchased for 430.3 million euros, and have made sanofi-aventis Zentiva’s largest shareholder. Zentiva has since acquired a number of generic products from SA. In June 2008, sanofi-aventis made an unsolicited offer to acquire the entire firm. The bid was improved in September 2008, and completed in 2009.
In June 2007, Zentiva entered the Turkish market with the purchase of a 75% stake in Eczacibasi Generic Pharmaceuticals, a major domestic pharmaceutical supplier in Turkey, from EIS Eczacibasi Ilaç Sanayi ve Ticaret, for EUR 460 million in cash, on a cash and debt-free basis. The seller will retain a 25% stake, which Zentiva will have a right to purchase after a two-year period.
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