STADA signs contract on the purchase of a generics business in Switzerland
11/09/2011 . Ad hoc Release
Bad Vilbel, November 9, 2011 – STADA Arzneimittel AG and the shareholders of Spirig Pharma AG, a Swiss pharmaceuticals company based in Egerkingen, Canton Solothurn, have today, on November 9, 2011, signed a contract on the purchase of Spirig's generics business including the respective sales structures by STADA, after both companies had published the intended transaction already on May 19, 2011 (see ad hoc release as of May 19, 2011, published via DGAP).
The purchase price for this generics business totals approx. CHF 97 million (at the current exchange rate approx. EUR 78 million) and also includes the right to continue marketing the acquired products under the Spirig umbrella brand. The acquired portfolio includes 56 prescription (RX) and 15 non-prescription (OTC) and discretionary prescription (OTX) products. With regard to the acquired products STADA estimates the current annual sales volume to be approx. CHF 42 million (at the current exchange rate approx. EUR 34 million) and EBIDTA, adjusted to the business structure being spun off, to be approx. CHF 9.5 million (at the current exchange rate approx. EUR 7.7 million). The acquisition does not include any production facilities.
The transaction is carried out under the usual execution terms as well as on condition that Spirig had spun off the business to be acquired into a separate independent business unit. Execution of the acquisition is planned for the first quarter of 2012. Payment of the purchase price will be made at the time of the execution. STADA will use cash on hand and existing free credit lines to finance the acquisition.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506