STADA: STADA signs contract to purchase Argentinian generics producer Vannier
12/10/2015 . Press Release
Bad Vilbel, December 10, 2015 – STADA Arzneimittel AG and STADA subsidiary BEPHA Beteiligungsgesellschaft für Pharmawerte mbH signed a contract yesterday to purchase the Argentinian generics producer Laboratorio Vannier S.A.
The purchase price, which includes a small performance-related component, amounts to a maximum of US dollar 13.0 million (approximately Euro 11.9 million at the current exchange rate) in cash. The seller is a private individual. Vannier, whose headquarters is in Buenos Aires, was founded in 1992 and in financial year September 2014 to August 2015 achieved sales of 72.0 million Argentinean pesos (approximately Euro 7.0 million), which represents growth of 43 percent from the previous year in the local Argentinean currency. The company’s production is certified in accordance with the local GMP standard and it currently has 88 employees. Vannier’s sales activities are focused on niches which are subject to few price regulations, particularly on conditions of the central nervous system (CNS) , cardiology and diabetes. Alongside the introduction of products from the Vannier pipeline, STADA is also planning to introduce products from its own pipeline. “In addition, we are also aiming to use the network, production and selling power of Vannier for branded products (OTC) from the STADA portfolio”, says Dr. Matthias Wiedenfels, Member of the Executive Board at STADA responsible, among other things, for business development and the integration of Vannier.
“By purchasing Vannier we are strengthening our Generics segment in an emerging market, which will demonstrate growth potential again after the current crisis. We have also purchased a company, which was clearly profitable even during the crisis, and will be part of the expected economic upswing”, says Hartmut Retzlaff, Chairman of the Executive Board of STADA Arzneimittel AG, about the most recent acquisition.
The acquisition is expected to be concluded at the beginning of January 2016. The consolidation of sales is envisaged from January 1, 2016. Payment of the purchase price will be made at the time of completion of the acquisition. For the financing, STADA will use cash on hand and existing free credit lines. It is expected that the acquisition will contribute to net income from the time of consolidation.
Additional information for analysts:
STADA Arzneimittel AG / Investor Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany / Phone: +49 (0) 6101 603-113 / Fax: +49 (0) 6101 603-215 / E-Mail: ir(at)stada.de
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany /
Phone: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-Mail: press(at)stada.de