The pharmaceuticals firm already has property rights on Diasa products and is looking into reopening its laboratories.

Madrid-based pharmaceuticals multinational Farmalíder is considering re-opening the Diasa Pharm laboratories in Turón in Asturias. It has already acquired the content and intellectual property rights to the products Diasa used to manufacture after Valente Tres Internacional failed to meet the payment of €4.5 mill. for the whole company within the stipulated term, forcing receivers to sell Diasa in parts. The receivership terms handed over the warehouse where the laboratories are based to Diasa’s creditor banks, with which Farmalíder will now have to reach an agreement. The banks’ asking price may be lowered by a recent court ruling, pending appeal, which condemns Diasa Pharma’s promoters and subsidiary Hunosa Sadim to pay debt worth €21 mill. The banks could then step in to recover part of the money owed.

Farmalíder, chaired by José Luis Berenguer, has been in the business since 1986. A year ago, the workforce reached more than a hundred and the firm had more than 30 pharmaceuticals products on the market, plus 20 in development. Turnover reached €5.7 mill. in 2011 and is estimated at 34 mill. for 2013, of which 30% is earmarked for RD&I. It operates in Turkey and Miami, which serves as a springboard to Latin America, where it is in talks with a number of companies. It has deals with a pharmaceuticals company in India to distribute its products in Europe and is also active in New Zealand. Farmalíder has a majority stake in all its subsidiaries.