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German pharmaceutical giant enters into a transaction with the United States for billions |
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Monday, 07 July 2008 |
The largest producer of medicines for use in venous Europe - German pharmaceutical Fresenius, makes a step in entering the U.S. market through the acquisition of one of the players in the sector in the U.S. - APP Pharmaceuticals, Journal reported Handelsblatt.
Subsidiary of the German company Kabi will pay 3.7 billion dollars for the acquisition of American business, as further undertakes to cover debts amounting to more 940 million dollars.
In the official release of Fresenius says that the acquisition of ARR will facilitate the imposition of a portfolio of products and the American market. American company will give the German company long sought a platform for entry into North America, which is important in view of rapidly growing market for drug injections in the U.S. said the Executive Director of Fresenius Ulf Schneider.
 Fresenius expect from the acquisition will not bring profit in its first year, and such to be generated after the second. To finance the transaction is expected to be used borrowing and sales of shares, and firms will be Deutsche Bank, Credit Suisse and JP Morgan.
At present, APP has over 100 products, which apply to patients through intravenous injection systems and through. The company is the sole supplier of heparin in glass packaging, after other manufacturers ceased production because of his concerns about the security of the product, reported Bloomberg.
Shareholders in the German concern adopted a very negative news, because the price of 23 dollars Stock of ARR is nearly 30 percent higher than that at which ended trading last week - 17.82 dollars for security. This led to a decline in market capitalization of Fresenius by 10 per cent today. |
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