East Meets West

Croatia's Pliva Pharmaceuticals is the first eastern European pharma company to make a US acquisition. Pliva paid $153 million for New Jersey-based Sobel Holdings, which owns Sidmak, a generics maker, and Odyssey, a specialty brand-name pharma company with products such as Urecholine (bethanechol) for non-obstructive urinary retention; Vivactil (protryptylline) and Surmontil (trimipramine) for depression; Antabuse (disulfiram) for alcohol abuse; Nystatin vaginal tablets (for candidiasis); and Custodol HTK solution for the preservation of donor organs.

In addition to the company's product rights and trademarks, the deal gives Pliva an established US distribution network and a product development and manufacturing plant in East Hanover, New Jersey.