Laboratorios Reig Jofre reinforces its international investment in the United Kingdom, with acquisition of 49% of the capital that the Spanish Development Financing Company (COFIDES, SA) owned on REIG JOFRE UK LTD, since 2015.
In 2014, Reig Jofre incorporated REIG JOFRE UK LTD in order to develop its business units in the United Kingdom and advance its strategic plan for international growth. And in 2015, the public-private company COFIDES, which offers financial support to investments by Spanish companies abroad, subscribed 49% of the company’s capital through the Fund for Investments Abroad (FIEX) of the Ministry of Finance. Industry, Commerce and Tourism. The support of COFIDES made it possible to consolidate its presence in the British market and acquire a portfolio of dermatological drugs, integrated into the Specialty Pharmacare division, with widely established brands in the United Kingdom such as Synalar and Metosyn, indicated in the treatment of skin infections , psoriasis or inflammatory processes such as eczema and dermatitis, as well as Crystacide, Hydrogen Peroxide cream, recommended by NICE (National Institute for Clinical Excellence) as a first-line treatment for impetigo in adults and children.
In 2020, the UK dermatology business accounted for 7% of this range’s revenue globally. Around 5 million units per year of the company’s topical products are produced at the specialized plant in Malmö, Sweden.
REIG JOFRE UK LTD distributes to the National Health System (NHS) through the tender system established in the United Kingdom a range of specialized products for hospital use from the Pharmaceutical Technologies division, produced in the beta-lactam antibiotics plants in Toledo and injectables and lyophilized from Barcelona.
The fact of operating in the United Kingdom with its own company contributed to a rapid adaptation in 2020 to the changes in the regulatory framework resulting from Brexit.
Is international investment is added to that carried out in April, with the creation of the subsidiary REIG JOFRE Sp. z oo in Poland, the eighth market in which Reig Jofre operates directly with its own equipment, which was created to mainly meet the demand for products from the company. Specialty Pharmacare unit and gradually introduce Consumer Healthcare lines.
International expansion is one of the strategic pillars of growth for Reig Jofre. In 2020, 55% of the turnover outside of Spain was generated through its subsidiaries in (United Kingdom, France, Portugal, Belgium, Sweden, Poland, and Singapore), and distribution agreements with more than 130 commercial partners in more than 70 countries.