Malin to receive €68m after disposing of Altan shareholding

Dublin-listed Malin is to receive €68 million from the sale of its shareholding in portfolio company, Altan.

Malin owns about 65 per cent of the issued share capital of the specialty pharmaceutical company, which has been acquired by Ethypharm.

The life sciences company acquired its shareholding in Altan after investing €34.5 million in June 2015.

Altan, which employs about 250 people, manufactures and markets injectable medications for the hospital and other provider segments. It currently markets over 40 medications used in pain and anaesthesia, epilepsy, oncology, anti-infectives, cardiovascular, and gynecology. The company was founded in 1998 and is led by Guillermo Herrera.

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"Joining an established European specialty pharmaceutical company, with a strong direct commercial presence in Europe beyond Spain and in major growth territories for injectable medicines, will be a booster for the international expansion of Altan Pharma's product portfolio" said Mr Herrera.