World’s largest generic and biosimilar company to buy remaining shares in Rowex joint venture
Building on a legacy of a successful 30-year joint venture in Ireland with Rowa Pharmaceuticals, Sandoz Limited has acquired the remaining shares in Rowex, a leading supplier of prescription and non-prescription medicines.
This acquisition strengthens Sandoz European leadership through a wholly owned business in Ireland, and demonstrates the growth potential of Sandoz as a standalone company.
Rowex, based in Bantry, Co Cork, has decades of expertise in developing products for the prescription and non-prescription market. Sandoz intends to continue to invest significantly in the business, launching further affordable medicines to address patient needs and create more highly skilled jobs. The Irish business will continue to operate in Bantry with all its staff remaining with the company.
Sandoz is the world’s largest generics and biosimilars company, headquartered in Basel, Switzerland.
Diane DiGangi Trench, Country Head and General Manager for Sandoz UK & Ireland, said “We are delighted to expand fully into the Irish market after a long and successful joint venture. We have ambitious plans to grow the business and see a huge opportunity for the Irish healthcare system to have better access to more affordable medicines. Access to off-patent medicines is below the European average in Ireland, with Medicines for Ireland estimating that the greater use of these medicines could save the Irish healthcare system an extra €200million per year that could be reinvested in frontline services, improving patient health.”
Brigitte Wagner-Halswick, owner of Rowa Pharmaceuticals Ltd, said “For over 30 years, Rowex Ltd, has performed incredibly well in Ireland. The company started operations in 1993 and has grown to be a significant presence in the Irish market providing high quality and cost-effective medicines to healthcare professionals and patients. I am excited for the future of the company, and I would like to wish Sandoz and all the team at Rowex Ltd every success in the years to come.”
