At yesterday’s Special Meeting, the shareholders of Akorn, Inc., have approved the merger agreement with Fresenius Kabi, with 83.9% of outstanding shares being voted in favour of the transaction. This corresponds to 99.7% of common shares represented in person or by proxy at the Special Meeting. The approval of the merger agreement fulfills one important condition for the full acquisition of Akorn, Inc. The transaction remains subject to additional customary closing conditions, including regulatory review under the Hart-Scott-Rodino Antitrust Improvements Act in the U.S.
On April 24, 2017, Fresenius Kabi announced it would acquire Akorn, Inc., a U.S.-based manufacturer and marketer of prescription and over-the-counter pharmaceutical products, for US$34 per share, equivalent to a total acquisition price US$4.3 billion, plus approximately US$450 million1 of net debt.
For additional information on the performance indicators used please refer to our website https://www.fresenius.com/alternative-performance-measures.
For information regarding non-GAAP financial measures or adjusted figures derived from Akorn’s public information, please see section “Non-GAAP Financial Measures” on Akorn’s FY/16 press release using following link: http://investors.akorn.com/phoenix.zhtml?c=78132&p=irol-newsArticle&ID=2250528
1 Fresenius projection for December 31, 2017
THIS RELEASE IS FOR INFORMATION PURPOSES ONLY.
This release does not constitute or form part of, and should not be construed as, any offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Fresenius SE & Co. KGaA (“Fresenius”) or any present or future member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities in Fresenius or any member of its group or any commitment whatsoever.
In particular, this release is not an offer of securities in the United States of America (including its territories and possessions), and securities of Fresenius may not be offered or sold in the United States of America absent registration under the Securities Act of 1933 (which Fresenius does not intend to effect) or pursuant to an exemption from registration.
The information contained in this release is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this release may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. In addition to statements which are forward-looking by reason of context, including without limitation, statements referring to risk limitations, operational profitability, financial strength, performance targets, profitable growth opportunities, and risk adequate pricing, as well as the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, or continue”, “potential, future, or further”, and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements as a result of, among other factors, changing business or other market conditions and the prospects for growth anticipated by the management of Fresenius. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Fresenius does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release.
At yesterday’s Special Meeting, the shareholders of Akorn, Inc., have approved the merger agreement with Fresenius Kabi, with 83.9% of outstanding shares being voted in favour of the transaction. This corresponds to 99.7% of common shares represented in person or by proxy at the Special Meeting. The approval of the merger agreement fulfills one important condition for the full acquisition of Akorn, Inc. The transaction remains subject to additional customary closing conditions, including regulatory review under the Hart-Scott-Rodino Antitrust Improvements Act in the U.S.
On April 24, 2017, Fresenius Kabi announced it would acquire Akorn, Inc., a U.S.-based manufacturer and marketer of prescription and over-the-counter pharmaceutical products, for US$34 per share, equivalent to a total acquisition price of US$4.3 billion, plus approximately US$450 million1 of net debt.
1 Fresenius projection for December 31, 2017
THIS RELEASE IS FOR INFORMATION PURPOSES ONLY.
This release does not constitute or form part of, and should not be construed as, any offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Fresenius SE & Co. KGaA (“Fresenius”) or any present or future member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities in Fresenius or any member of its group or any commitment whatsoever.
In particular, this release is not an offer of securities in the United States of America (including its territories and possessions), and securities of Fresenius may not be offered or sold in the United States of America absent registration under the Securities Act of 1933 (which Fresenius does not intend to effect) or pursuant to an exemption from registration.
The information contained in this release is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this release may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. In addition to statements which are forward-looking by reason of context, including without limitation, statements referring to risk limitations, operational profitability, financial strength, performance targets, profitable growth opportunities, and risk adequate pricing, as well as the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, or continue”, “potential, future, or further”, and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements as a result of, among other factors, changing business or other market conditions and the prospects for growth anticipated by the management of Fresenius. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Fresenius does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release.
Fresenius Medical Care, the world’s largest provider of dialysis products and services, has successfully refinanced its existing senior secured credit agreement, originally maturing in 2019.
The amended credit agreement now reflects a simplified, unsecured structure consistent with the investment grade rating of the company and lower tiered pricing. The new structure should also enable future bond issuances to be ranked pari passu with the credit agreement.
The new facility has an aggregate amount of approximately USD 3.9 billion and consists of revolving facilities and term loans, both U.S. Dollar and Euro denominated with maturities in 2020 and 2022.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius Kabi has put two new production lines for antibiotics into operation at its plant in Santiago de Besteiros, Portugal. Representing the national government at the opening ceremony were special guests Manuel Delgado, Secretary of State of Health, and João Vasconcelos, Secretary of State of Industry.
A new 6,000-square-meter (almost 65,000-square-foot) building was erected to house the two lines, which will be used to produce penicillin for intravenous administration. About 80 new jobs are being created at the Santiago de Besteiros plant by the expansion. The total investment is about €17 million.
Dr. Michael Schönhofen, member of the Fresenius Kabi Management Board and President of the Pharmaceuticals Division, said: “This expansion is a clear commitment to our Santiago de Besteiros facility, and to Portugal. It is also a part of fulfilling our promise to provide patients worldwide with high-quality drugs.”
The Fresenius Kabi plant in Santiago de Besteiros manufactures various pharmaceuticals, such as antibiotics and infusion solutions. As one of Portugal’s largest pharmaceutical production sites, it has about 600 employees.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius was presented yesterday with the Corporate Finance Award for the company's acquisition of Quirónsalud, Spain’s largest private hospital operator. The award is given annually by the major German business daily Börsen-Zeitung for transactions judged to be outstanding in both strategical and financial terms. Fresenius won in the Large Caps category, which groups major companies. With the Quirónsalud acquisition, the Börsen-Zeitung said, “Fresenius succeeded in making a quantum leap in the hospital business."
Fresenius was presented yesterday with the Corporate Finance Award for the company's acquisition of Quirónsalud, Spain’s largest private hospital operator. The award is given annually by the major German business daily Börsen-Zeitung for transactions judged to be outstanding in both strategical and financial terms. Fresenius won in the Large Caps category, which groups major companies. With the Quirónsalud acquisition, the Börsen-Zeitung said, “Fresenius succeeded in making a quantum leap in the hospital business."
Fresenius Medical Care, the world’s largest provider of dialysis products and services, sees excellent future prospects for continued growth. At its Capital Markets Day in Frankfurt, today the management of Fresenius Medical Care updates analysts and investors on the Company’s growth and efficiency strategy and confirms the ambitious financial targets for 2020.
The revenue growth target for 2020 is EUR 24 billion. This represents an annual average growth rate of around 10 percent. Over the same period Fresenius Medical Care also expects an annual, high single-digit percent increase in net income.
These goals are mainly driven by a solid development of the core business of dialysis services and products, with contributions from all regions. In addition, Fresenius Medical Care continues to grow in its Care Coordination business. This includes additional health services to provide a holistic approach in health care for the Company’s patients. Until 2020 Fresenius Medical Care is targeting an annual average revenue growth rate of more than 15 percent in Care Coordination which amounts to 16 percent of the total revenue today.
Fresenius Medical Care also announced its Global Efficiency Program II. The program’s objectives are to identify and realize further efficiency potential and enhance the overall competitiveness of Fresenius Medical Care. Starting in 2018, Global Efficiency Program II targets to achieve sustained efficiency gains that should lead to cost savings of EUR 100 to EUR 200 million per annum by 2020.
In an environment of increasing patient numbers and changing health care systems, Fresenius Medical Care sees significant potential in providing value-based care. This approach focuses on selling solutions, providing holistic care and receiving outcome-based reimbursement instead of offering single products or services. The vertically integrated business of the Company together with its Care Coordination capabilities enables Fresenius Medical Care to provide effective and efficient care. This is the platform for offering value-based care to an increasing number of patients.
Rice Powell, Chief Executive Officer of Fresenius Medical Care, said in his opening remarks: “The number of dialysis patients is expected to increase from 3 million at the end of 2016 to approximately 4.9 million by 2025. By leveraging our strong core competencies as the leading integrated global provider in the dialysis industry and more than a decade of experience in value-based care, we are excellently positioned for further profitable growth.”
Presentations and other information material given at the Capital Markets Day will be available on our website soon: http://www.freseniusmedicalcare.com/en/investors/events-presentations/
Fresenius Medical Care is the world's largest provider of products and services for individuals with renal diseases of which around 3 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,654 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 310,473 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with the core business, the company focuses on expanding the range of related medical services in the field of Care Coordination. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).
For more information visit the Company’s website at www.freseniusmedicalcare.com.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
June 08, 2017 - 10:45 am
Frankfurt, Germany
Capital Markets Day 2017, Fresenius Medical Care
Live webcast of the presentations of CEO Rice Powell and CFO Mike Brosnan
Fresenius Medical Care, the world’s largest provider of dialysis products and services, is expanding its peritoneal dialysis (PD) product range with the introduction of two new dialysis fluids. Both products contain pure bicarbonate buffers and have considerably reduced amounts of glucose degradation products (UltraLow GDP). The new fluids – bicaVera® low calcium and bicaNova® – will allow therapy to be adjusted more precisely to the individual patient’s needs in terms of calcium or buffer concentration.
bicaVera® and bicaNova® regulate the acid-base balance through a pure bicarbonate buffer, while the low calcium concentrations in these PD dialysis fluids follow the recent International Society of Peritoneal Dialysis (ISPD) guidelines.
The two new PD fluids were presented this month at the 2017 European Dialysis and Transplantation Association/European Renal Association (ERA-EDTA) congress in Madrid. They will be introduced in steps in several European markets.
In peritoneal dialysis, the lining of a patient’s abdominal cavity – the peritoneum – acts as the filter for cleaning the blood. Of the approximately 3 million dialysis patients around the world, about 350,000 choose peritoneal dialysis treatment.
Fresenius Medical Care offers a wide range of products for Continuous Ambulatory Peritoneal Dialysis (CAPD) and Automated Peritoneal Dialysis (APD). These include various dialysis fluids, bag systems, cyclers for APD, and the related bag and tube systems.
For medical professionals, more information about the peritoneal dialysis products of Fresenius Medical Care is available at www.freseniusmedicalcare.com/en/healthcare-professionals/peritoneal-dialysis/peritoneal-dialysis-overview/
Fresenius Medical Care is the world's largest provider of products and services for individuals with renal diseases of which around 3 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,654 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 310,473 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with the core business, the company focuses on expanding the range of related medical services in the field of Care Coordination. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).
For more information visit the Company’s website at www.freseniusmedicalcare.com.
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
Azacitidine, a nucleoside metabolic inhibitor, expands the company's sterile injectable portfolio in oncology.