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Acino Holding Ltd to Buy Cephalon, Inc. Units For EU 80 Million Cash, Shares PDF Print E-mail
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Thursday, 20 October 2011 00:26
Acino and Cephalon Inc. has entered into an agreement under which Acino will acquire Cephalon's combined Middle East and African business for a total consideration of approximately 80 million euros. Under the terms of the agreement, Acino will pay 60 million euros in cash and 20 million euros through the issuance of shares from authorized capital (calculated at the average share price on the day prior to the closing of the transaction). Acino expects the acquisition to be immediately accretive.

The business to be acquired, which includes Cephalon and Mepha brands, is expected to generate sales of close to 100 million euros in 2011. The well-established product portfolio comprises leading brands including the analgesic Olfen (diclofenac), the anti-spasmotic Spasfon (phloroglucinol/trimethylphloroglucinol), the gastrointestinal drug Gasec (omeprazole) and the antibiotic Mesporin (ceftriaxone).

Through this transaction, Acino makes a quantum leap toward establishing its own market presence in emerging markets. Peter Burema, Acino's CEO, said: "This is a game-changing acquisition for our company and underpins our commitment to building Acino's own market presence in up-and-coming economies. The acquired products ideally complement our own portfolio. The Mepha legacy, built on its Swiss heritage, will live on through this acquisition by Acino, also headquartered in Switzerland and committed to the same high quality standards."

Over the last 18 months, Acino's management has refined its growth strategy to focus on three complementary business pillars: Selling the products it develops through its partners in the developed markets, establishing its own market presence under its "Acino Switzerland" brand in emerging markets, and entering into development programs with innovative pharmaceutical companies based on its expertise in drug delivery technology.

source:Acino Holding Ltd


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