The Malta Competition and Consumer Affairs Authority has approved a merger between four firms active in the importation of pharmaceuticals and medical devices, three of which already form part of the same group.
Neofarma Pharmaceutical Ltd, Neofarma Sales and Marketing and Pharmabart are part of the JP Global Holdings Group, one of Malta’s largest companies in the space. The group is owned by Paul Camilleri and Jean-Pierre Miceli, and also has an approximately 26 per cent shareholding in Brown’s Pharmacy, the largest chain of pharmacies on the islands, of which the group is a major supplier.
Neofarma Pharmaceutical distributes pharmaceutical supplies, vitamins, food supplements and medical devices, while Neofarma Sales and Marketing distributes toiletries, perfumes, vitamins and food supplements.
Pharmabart, meanwhile, imports, exports and distributes pharmaceuticals, toiletries and medical devices.
These three firms will be setting up a joint venture together with MGC Distributors Ltd, which imports, exports and distributes toiletries, vitamins, food supplements and hygienic products.
MGC Distributors is owned by Mark George Cardona and Keith Cardona.
The four companies are set to merge to create a full functioning joint venture INV Holdings, which will take over the shareholding and all operations of the merging firms.
The medical and related product importation space has seen other developments over the last months, most notably the acquisition of medical device importer TrioMed by major medical supplier Prohealth.
