MADRID, 4 May. (EUROPA PRESS) -

Faes Farma has received authorization to acquire 100% of the shares of Novosci Healthcare, a commercial platform based in Dubai (United Arab Emirates), the pharmaceutical company informed the National Securities Market Commission (CNMV) this Thursday.

This operation, framed in the commitment to internationalization and geographical diversity of the group, reinforces the presence of Faes Farma in the Africa-Middle East region, consolidating it as the third main market with a direct presence after Iberia and Latin America.

The purchase of Novosci, a company founded in 2018, will allow Faes Farma to incorporate its own sales in the region into a unique project, since until now they were made through distributors.

Novosci provides third-party products in the fields of respiratory, pain and metabolism, areas that Faes Farma considers "key" for the business and its growth strategy.

"This acquisition reinforces the commercial capabilities of Faes Farma in the region thanks to the commercial and administrative structure of Novosci, made up of more than twenty people in the two main regional markets: Saudi Arabia and the United Arab Emirates", the company highlighted. Spanish.

The Africa-Middle East region is of great interest to Faes Farma due to the size of its market. The four main markets in this region, the Gulf countries, Turkey, Egypt and Morocco together represent around 22,000 million euros, double that of the Spanish market.

In 2022, the group reached a turnover of 21 million euros in this region through different channels, through subsidiaries, sales teams, agreements with partners or agencies, a figure that is expected to increase in 2023.

The international income of Faes Farma surpassed the national ones for the first time in 2022, representing 56% of the total consolidated income, which amounted to 461.7 million euros. In the first quarter of 2023 this percentage has increased to 58.5%.