Jordan-based MS Pharma has agreed to acquire Genepharm, a Europe-based pharmaceutical company, it was reported yesterday.

Financial details of the deal were not revealed. Under the terms of the contract, Genepharm's senior management team will continue to serve the company to expand the business activities. The deal is likely to be completed by the end of this month.

Genepharm is said to integrate advanced R&D capabilities with manufacturing capacity in conventional solids, sterile liquid (oncology) and oncology oral solids. The acquisition of Genepharm is intended to help MS Pharma to expand its geographic footprint, in addition to serving more patients and customers in Europe. MS Pharma's present chronic disease range will be expanded with the addition of Genepharm's products related to cardiovascular, CNS and oncology. The deal will also allow Genepharm to access MS Pharma's manufacturing facilities and products portfolio.