The recently declared bankrupt drug factory InnoGenerics can still make a restart. This is reported by the curator who has been appointed to supervise the bankruptcy.
A supplier of raw materials for medicines from Ter Apel, Ofichem Group, takes over the company in a slimmed-down form. Earlier, the curator reported that the search for a new owner had not yielded any results. Now the curator says that social interests for the availability of medicines made a restart possible after all.
InnoGenerics mainly makes patent-free medicines in tablet form. These include medicines for gout, depression, cardiovascular disease, epilepsy and diabetes. The factory went bankrupt after operating at a fraction of its full production capacity for a long time.
The disappearance of the factory would make the Netherlands more dependent on medication from abroad. The government, which was one of the shareholders of InnoGenerics, made a contribution to the estate at the restart.
Ofichem Groep from Ter Apel calls the takeover a ‘restart Light’, because not all production will be continued. According to CEO Weite Oldenziel, his company can now also produce patent-free medicines through this acquisition. Earlier, Ofichem Groep wanted to do that, but it was not possible due to pressure on medicine prices. “I think we can strengthen drug production in Europe,” he said in a statement.
The trustee, InnoGenerics and Ofichem Groep are not making any statements about amounts involved in the acquisition.
