Compañía Española de Financiación del Desarrollo, COFIDES S.A., will take part in the acquisition of the marketing licences of four products in the United Kingdom, announced by Reig Jofre last April. COFIDES will support Reig Jofre’s plans in the UK by taking 49% of the share capital of Reig Jofre UK Ltd, its subsidiary in the UK, amounting to £1.9m (approximately €2.8m) with the option to leave in 6-8 years. COFIDES will structure this operation through the Fund for foreign investment (FIEX).
This is the first time that COFIDES and Reig Jofre have cooperated in an internationalisation project. The resources provided by COFIDES will be used to finance the acquisition of marketing licenses required for four dermatology products amounting to £4m (€5.6m). The company already owns the manufacturing licensing and the trademark of these products and, through the transaction announced in April, it acquired the marketing licenses for the UK.
COFIDES Chairman and CEO, Salvador Marin emphasised the variety of financial products available through COFIDES, among them the share capital of companies. He stated that with this alternative, "COFIDES becomes a financial partner that brings stability to Spanish companies and encourages their international expansion".
According to Ignasi Biosca, CEO of Reig Jofre, "having the support of COFIDES in our internationalisation process allows us to diversify the destination of our own financial resources and accelerate our development plan".
About COFIDES
COFIDES is a joint state and privately owned company that since 1988 has provided financial support for investment projects of Spanish companies in foreign countries. COFIDES exclusively manages the State funds FIEX and FONPYME on behalf of the Secretary of State for Trade, part of the Ministry of Economy. Its shareholders include Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Popular and Banco de Sabadell and CAF-Banco de Desarrollo de America Latina.
About Reig Jofre
After the merger between Laboratorio Reig Jofre and Natraceutical, the new Reig Jofre is a pharmaceutical company whose business is divided into two major areas: one main for the development, manufacture and marketing of own products (approximately 78% of sales) and one of specialized manufacturing for thirds (22% of sales). At its core activity, the company specializes in the development of prescription and non-prescription pharmaceutical products, injectable generics based on specialized technologies, medical devices, food supplements and cosmetics. The company directs its R&D to develop new indications and/or dosage forms of known active principles, generic medicines with a special focus on beta lactam and lyophilized injectable antibiotics, topical dermatological products, OTCs and food supplements as well as the development of new innovative molecules in partnership with start-ups and research centers.
Reig Jofre trades on the Spanish stock exchange under the ticker RJF. Total outstanding shares: 1,264,284,408
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