Gensia Buys Out Diaspa
Gensia Sicor Inc. acquired the remaining 50% interest in Diaspa S.P.A., an Italian pharmaceutical company specializing in bulk fermentation products, for $5.7 million.
Irvine-based Gensia purchased the initial 50% interest for $2.8 million in December and made additional capital investments of about $1.5 million, bringing the total purchase price of Diaspa S.P.A. to about $10 million.
The remaining 50% interest in Diaspa was purchased from Archimica S.P.A., an Italian bulk pharmaceutical company in which Carlo Salvi, the executive vice president of Gensia and its largest shareholder, has a 50% beneficial ownership.
Diaspa had revenues of about $15.4 million for the year ended Dec. 31. Gensia, a pharmaceutical company, reported revenues of $149.7 million for 1997.