Mithra Prescribed drugs SA, the mum or dad firm of the Liège firm specializing in ladies’s well being, has been declared bankrupt, the Setca union reported on Monday. Administration confirmed Monday night that the Liège firm courtroom opened the chapter of Mithra Prescribed drugs SA and appointed receivers. Nineteen individuals are affected.
As soon as a Walloon flagship, Mithra discovered itself cornered by debt and missing money circulation. In early March, the corporate introduced it was contemplating the sale of its belongings and probably the complete firm. It concluded three loans for 21 million euros to finance its operations till June.
Mithra SA now not has any purpose to be a part of this dismantling, explains Setca everlasting secretary Geoffrey Broux. Contracts may, nonetheless, be provided to a number of the laid-off staff for different actions.
“Mithra Prescribed drugs SA was the truth is confronted with vital monetary difficulties which prevented it from fulfilling its obligations and now not had the working capital essential to proceed its actions,” explains administration.
The itemizing of Mithra shares on Euronext Brussels has been suspended since April, resulting from negotiations concerning the sale of its belongings.
The Liège firm specializing in ladies’s well being Mithra introduced on Tuesday that it had offered its Estetra and Neuralis entities to the Hungarian firm Gedeon Richter for 175 million euros. The transaction was signed on Tuesday.
Mithra specifies that it has additionally transferred to Gedeon Richter sure particular belongings inherent within the manufacture of its flagship estetrol. The whole department of exercise associated to analysis, growth, manufacturing, advertising and marketing and post-marketing scientific work referring to estetrol subsequently passes into Hungarian fingers.
This switch consists of mental rights and present contracts in addition to the Estelle merchandise (already marketed) and Donesta (on the growth stage), specifies Mithra.
All 49 staff of the offered entities will be capable to proceed their actions inside Gedeon Richter. The Hungarian firm additionally provided a contract to the 17 staff affected by the chapter of the mum or dad firm Mithra Prescribed drugs SA, introduced on Monday.
The CDMO manufacturing unit and the opposite Novalon subsidiary additionally stay beneath authorized safety and are subsequently not affected by this chapter. They’re topic to separate judicial reorganization procedures.
Originally of the month, Mithra requested the Liège enterprise courtroom to increase till June 30 the judicial safety measures which shield it from its collectors. On the finish of April, the corporate obtained the opening of authorized reorganization proceedings for Novalon in addition to the switch beneath judicial authority of the CDMO manufacturing unit.
The PRJ was to make it doable to restructure Novalon’s debt whereas the switch beneath judicial authority made it doable to nominate brokers accountable for supervising negotiations with doable purchaser candidates.
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