Latest News

12 December 2006

Crawford Healthcare Limited - Acquisition of Zindaclin in Europe and USA,third deal in last month

Crawford Healthcare Limited ("Crawford"), the fast growing, UK based specialty pharmaceutical company focused on dermatology, is pleased to announce the acquisition of the European and USA rights of Zindaclin (a major product for the prescription level treatment of acne) from ProStrakan Group plc.

Key points :

The Acquisition

  • Zindaclin is already promoted in the UK and Irish markets through Crawford's current sales force, as a result of a previous acquisition concluded in October 2005.
  • Zindaclin has been launched in Germany, France, Belgium and Luxembourg.
  • Zindaclin has been approved in all major European markets.
  • In the USA, Crawford aims to file an IND for Zindaclin during the first half of 2007.

Benefits and Opportunities of Acquisition

  • Near term product revenues from existing launched markets.
  • Significant growth potential across European markets.
  • Key strategic brand to drive the development of Crawford's aim of becoming a leading dermatology company in Europe and the USA.

Richard Anderson, Chief Executive of Crawford, commented;

"The acquisition of Zindaclin is an exciting step in the development of Crawford in terms of delivering its stated aim of becoming a leading dermatology company. This acquisition is the latest of three recent deals, which have been completed with the on-going support of Merlin Biosciences.

"The company has recently acquired a majority stake in the profitable and rapidly growing French dermatology distribution company Laboratoire ACM. It also acquired the global rights to Vitix, a vitiligo product current selling in over 30 European markets. We are confident that these deals offer significant synergies, as well as delivering greater critical mass to Crawford.

"Since April 2005, we have successfully completed seven acquisition or in-licensing deals and now have sales in 47 markets. We believe that Crawford is becoming the partner of choice to access the rapidly growing European dermatology market.

"Backed by Merlin Biosciences, we have a number of opportunities to make larger acquisitions both in Europe and North America."

For further information contact:

Richard Anderson
Telephone: +44 (0) 1477 537 596
Chief Executive
Crawford Healthcare Ltd

Nick Lyon
Tel: 020 7796 4133
Hudson Sandler

Or e-mail businessdevelopment@crawfordpharma.com