Zeltia

Zeltia, S.A.

Company type	Sociedad Anónima
Traded as	BMAD:  ZEL
ISIN	ES0184940817
Industry	Pharmaceutical
Founded	Vigo, Galicia, Spain (August 3, 1939 (1939-08-03))
Defunct	2015 (2015)
Headquarters	Madrid , Spain
Area served	Worldwide
Key people	José Fernández Sousa-Faro (Chairman)
Products	Pharmaceuticals
Revenue	US$176 million (2009)
Operating income	(US$46.3) million (2009)
Net income	(US$40.3) million (2009)
Total assets	US$302.9 million (2009)
Total equity	US$59 million (2009)
Subsidiaries	PharmaMar, Genómica, Sylentis, Zelnova, Xylazel
Website	www.zeltia.com
Footnotes /references [finan 1] [history 1]

Zeltia is a former Spanish pharmaceutical company which operated through a variety of subsidiaries in the pharmaceutical and chemical industries. As of 2007, Zeltia's research activities in the pharmaceutical area had not resulted in a marketed product. ^{[history 2]} However, the company's majority shareholder and chairman are the same person, which has relieved the pressure which many CEOs have experienced to produce immediate returns. ^{[history 3]}

History

Zeltia is a group of chemical and pharmaceutical companies founded in Vigo in 1939 as a spin-off of the Miguel Servet laboratory. Its driving force was the Fernández López brothers from Lugo. ^[1]  Initially, the company was supported by the scientific contributions of Fernando Calvet Prats, ^[2] who came from the University of Santiago and had been repressed by the Franco regime at the end of the Civil War. Calvet contributed his technical knowledge to the company until he was reinstated at the University of Salamanca in the 1944-45 academic year. ^{[3] [4]}

The initial objective of the company was to exploit the medicinal flora of our country and the use of products from animal glands obtained from the meat companies, with which the Fernández López brothers operated through the slaughterhouses of Porriño and Mérida.

Once an agreement was reached with Obella, Calvet returned to Spain and resumed his position at the company. The relative importance of each of the actors in this venture is clearly illustrated by the fact that the Fernández López brothers (four brothers) were registered in the founding of Zeltia, each with 200 shares; Dr. Obella Vidal with 200 shares; José Ruiz with 25 shares; Fernando Calvet Prats with 25 shares; and Fidel Isla Couto with 10 shares.

Fernando Calvet, who worked as technical director of the Miguel Servet Laboratories in Vigo (Biochemical Institute) at the end of the 1935-36 academic year, was tasked with organizing a laboratory to study methods for preserving, analyzing, and extracting ergot from rye in order to obtain alkaloids used to manufacture the drug “Pan-Ergot,” indicated for the treatment of migraines and glaucoma. The director of this pharmaceutical company was Dr. Obella Vidal, a Galician nationalist, associated with a pharmacist named Rubira. As soon as the civil war broke out, Calvet fled to Sweden and Obella registered a trademark in Portugal under the name Zeltia in August 1937 for the exploitation of ergot. Among other things, he obtained a concession to grow medicinal plants in the Porriño area, where the Fernández López brothers had most of their businesses.

In 1993 Zeltia sells its subsidiary Cooper-Zeltia taking the name CZ Veterinaria, which years later would be renamed Zendal. ^[5]

The company was taken over by its subsidiary Pharma Mar in a reverse takeover, keeping the Zeltia's Group structure.

In 2018 PharmaMar sells Xylazel to the Dutch company AkzoNobel. ^{[6] [7]}

In 2019 PharmaMar sells Zelnova, the group's last subsidiary in Galicia, to the Galician investment company Allentia Invest for 33 million euros. ^[8]

Subsidiaries

Direct subsidiaries as of 2009 were: ^{[finan 2]} Pharma Mar, S.A.U.; Genómica, S.A.U.; Zelnova, S.A; Protección de Maderas, S.A.U; Xylazel, S.A.; Noscira, S.A.; Sylentis, S.A.

Indirect subsidiaries which are direct subsidiaries of Pharma Mar as of 2009 were: ^{[finan 2]} Pharma Mar US; Pharma Mar AG; PharmaMar S.A.R.L.; Pharma Mar GmbH; Pharma Mar Ltd.

A single indirect subsidiary is a direct subsidiary of Zelnova, that being Copyr, S.p.A. ^{[finan 2]}

References

1. Vigoempresa (July 12, 2003). "Grupo Zeltia". www.vigoempresa.com. Retrieved June 19, 2019.^{[ permanent dead link ]}
2. "Chequeo a la Industria" [Industry Checkup](PDF) (in Spanish). Archived from the original (PDF) on March 5, 2016.
3. Fuentes, Ana (September 19, 2020). "Los Fernández: Zeltia, Zendal y PharmaMar". Atlántico Diario. Rías Baixas Comunicación. Retrieved October 10, 2020.
4. Graña, Lara (February 14, 2021). "Los Sousa, con la mar en vena". El Faro de Vigo. Prensa Ibérica. Retrieved February 15, 2021.
5. "El pueblo que levantó una industria". La Voz de Galicia. August 31, 2015.
6. "Pharma Mar vende su química gallega Xylazel por 21,8 millones » Galicia" (in Spanish). Retrieved July 25, 2022.
7. Construcción, Alimarket. "Akzo Nobel compra la fabricante gallega Xylazel - Noticias de Construcción en Alimarket, información económica sectorial". Alimarket.es (in Spanish). Retrieved July 25, 2022.
8. Ropero, Javier García (August 24, 2020). "Zelnova buscará compras y crecer en el exterior para facturar 100 millones en 2024". Cinco Días (in Spanish). Retrieved July 25, 2022.

Financial

1. "Zeltia, S.A." (database record). Austin, Texas, United States: Hoover's. Companies. Retrieved May 7, 2011.
2. "Consolidated Financial Statements as of 31 December 2009". Zeltia. April 16, 2010. Archived from the original on July 18, 2011. Retrieved May 7, 2011.

History

1. Bueno, María José Sánchez (2008), El proceso innovador y tecnológico: estrategias y apoyo público (Google Books) (in Spanish), Netbiblo, p. 175, ISBN   978-84-9745-240-3, OCLC   434255490 , retrieved May 7, 2011
2. Clark, Todd D. (2007), "Spain", PharmaHandbook: a guide to the international pharmaceutical industry (Google Books) (5 ed.), New Orleans, Louisiana, United States: Value of Insight Consulting, p. 381, ISBN   978-0-9795443-0-9, OCLC   254331162 , retrieved May 7, 2011
3. Jericó, Pilar (2009), "The Price of Fear", No Fear: In Business and In Life (Google Books), Basingstoke, United Kingdom: Palgrave Macmillan, p. 66, ISBN   978-0-230-58038-1, OCLC   636422030 , retrieved May 7, 2011