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STADA Arzneimittel AG — M&A Activity 2011
May 26, 2011
412_rns_2011-05-26_d290cc93-27b9-445a-8ecd-bc6b964386c4.html
M&A Activity
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News Details
Corporate | 26 May 2011 11:50
STADA acquires British branded product Cetraben(R) for GBP 30 million (approx. EUR 34.6 million)
STADA Arzneimittel AG / Key word(s): Mergers & Acquisitions
26.05.2011 / 11:50
Corporate News
STADA acquires British branded product Cetraben(R) for GBP 30 million (approx. EUR 34.6 million)
Bad Vilbel, May 26, 2011 – STADA Arzneimittel AG, has today, on May 26, 2011, signed the contracts for the purchase of the British branded product Cetraben(R). The sellers are various companies and a private individual. The purchase price amounts to GBP 30 million (approx. EUR 34.6 million). STADA will use cash on hand to finance the acquisition.
Since 2006, the British STADA subsidiary Genus Pharmaceuticals has sold, under the Cetraben(R) brand, a moisturizing cream and bath essence in the therapeutic area of dermatology for the treatment of skin eczema and dry skin as a licensed product in the UK. On completion of the purchase contractually agreed today, these previously in-licensed products will be transferred to the ownership of Genus Pharmaceuticals. In 2010, Genus Pharmaceuticals generated sales of GBP 7.5 million (approx. EUR 8.7 million) with these high-margin and seasonally independent products and thus achieved sales growth of 27% compared to 2009.
Between 2006 and 2010, Genus Pharmaceuticals generated average annual growth rates of 30% with these products. After the purchase, the Company, from today’s perspective, also sees good chances of maintaining this strong growth at a similar level. The planned introduction of further products under the Cetraben(R) brand name is also expected to contribute to this.
The acquisition of the Cetraben(R) branded products secures both products, whose license agreement would have expired at the end of 2012, for the product portfolio of Genus Pharmaceuticals in the long term; in addition, the profitability of Genus Pharmaceuticals will be considerably improved as a result of the license payments previously in the amount of 15% of net sales, which will no longer be applicable in the future.
In the context of the acquisition, STADA has acquired the brands, the approvals, the product pipeline and the domain names for Europe and a large number of Eastern European countries including Russia as well as joint ownership of the dossier. The STADA Group therefore also has the opportunity to internationalize the Cetraben(R) products and thus develop additional growth impulses for both products. Furthermore, the acquisition will allow STADA to further expand its expertise in the area of dermatology.
Additional information:
STADA Arzneimittel AG / Corporate Communications / Stadastraße 2-18 / D – 61118 Bad Vilbel /
Phone: +49 (0) 6101 603-113 / Fax: +49 (0) 6101 603-506 / E-mail: [email protected]
Or visit us in the Internet at www.stada.com .
End of Corporate News
26.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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| Language: | English |
| Company: | STADA Arzneimittel AG |
| Stadastraße 2-18 | |
| 61118 Bad Vilbel | |
| Deutschland | |
| Phone: | +49 (0)6101 603- 113 |
| Fax: | +49 (0)6101 603- 506 |
| E-mail: | [email protected] |
| Internet: | www.stada.de |
| ISIN: | DE0007251803, DE0007251845, |
| WKN: | 725180, 725184, |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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| 126309 26.05.2011 |