Two Layers, One Value Chain
Until this week, HRV Pharma worked in one layer of the pharmaceutical value chain: active pharmaceutical ingredients, made through a network of certified partners. With the acquisition of Phatebo GmbH, it now works in two.
HRV Pharma's Acquisition of Phatebo GmbH
BioSpectrum covers the deal in detail. HRV has agreed to acquire all of Phatebo's equity from ZeroStack Corp. Phatebo is a licensed clinical trial supplier in Hilzingen, Germany, with revenues of about ₹350 crore in 2025, and it also trades pharmaceuticals and medical devices across Europe and other international markets.
Combining Complementary Capabilities
The fit is easy to see. Phatebo brings a licensed European entity, established good distribution practice systems and long standing relationships with sponsors and CROs. HRV brings more than 50 FDA and EU GMP certified partners and customers in 55 countries, across the US, Europe, the Middle East, Latin America and Asia Pacific.
One Asset-Light Model Across Two Layers
The asset light model stays intact. Phatebo keeps its name and continues to operate from Hilzingen under Managing Director Martin Lisker, with its existing team and customer agreements in place.
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