The company entered into the asset purchase agreement in accordance with Regulation 596/2014/EU.
Lavipharm is expected to commercialise the product on completing the relevant marketing authorisation transfer, set to take place during the second quarter of next year.
Flagyl has generated sales of around €1.4m (Wholesale Prices) in Greece, on a yearly basis.
The company plans to finance the transaction using its own funds.
Lavipharm executive board member Telemaque Lavidas said: “We are happy to have completed another acquisition just before we bid farewell to 2023.
“The addition of Flagyl, a renown and well-established antibiotic product to our portfolio, further solidifies our position in the pharmaceutical market.”
During this month, the company signed an asset purchase agreement with Boehringer Ingelheim International to purchase two analgesic pharmaceutical products for the Greece and Cyprus markets.
The company intends to commercialise these pharmaceutical products, Lonarid N and Lonalgal, globally.
Sales of these products amounted to nearly €8m annually.
The addition of Lonarid N and Lonalgal to Lavipharm’s portfolio is expected to strengthen the company’s position in pain management and expands the options it offers to healthcare professionals to meet the therapeutic needs of patients.
The company’s portfolio includes new and effective pharmaceutical products that cater to the daily needs of patients.