Fresenius

Fresenius Kabi opened the extension of its production plant in Mihla, Germany, today with a festive dedication ceremony attended by Mayor Rainer Laemmerhirt. The healthcare company invested about €10 million in the project.

In the new production hall, employees will make core injection-molded components for pharmaceutical containers, port systems – which enable infusions to be administered as gently as possible, for example during chemotherapy – and medical disposables. The latter include such products as feeding tubes and giving sets, which are routinely used in hospitals to administer infusion therapies, clinical nutrition and intravenous drugs. The extension will enable Fresenius Kabi to produce components it previously had to purchase from suppliers.

At approximately 1,000 square meters (10,700 square feet), the new hall doubles the amount of space available for production activities at the plant in Mihla, a town in the eastern German state of Thuringia. The project also includes an expansion of the plant’s warehouse to hold as many as 2,000 pallets – a more than six-fold increase.

Dr. Christian Hauer, President Medical Devices Division of Fresenius Kabi, said: “Products from Fresenius Kabi are used in the care of chronically and critically ill patients, which makes the highest standards of quality and reliability essential. Our employees in Mihla have been doing outstanding work for many years. I’m delighted that with this extension, we are making our Mihla production location ready for the future.”

Mayor Laemmerhirt praised Fresenius Kabi for its commitment to his community: “I am very happy that Fresenius Kabi, as a globally active company, is investing here in Mihla. This can also be seen as a positive sign for our region and its economic development.”

Fresenius Kabi is expanding its activities in Indonesia. PT ETHICA Industri Farmasi, a joint venture of Fresenius Kabi and the Indonesian pharmaceuticals company SOHO Global Health, opened a new plant in Cikarang, just outside the country’s capital and biggest city Jakarta. The plant’s approximately 230 employees will produce a wide range of injectable drugs needed in therapeutic areas including gynecology, anesthesia and intensive care. The products are planned for use by Indonesian patients and for export to other Southeast Asian countries. Fresenius Kabi employs a total of about 530 people in Indonesia.

Fresenius Kabi is expanding its activities in Indonesia. PT ETHICA Industri Farmasi, a joint venture of Fresenius Kabi and the Indonesian pharmaceuticals company SOHO Global Health, opened a new plant in Cikarang, just outside the country’s capital and biggest city Jakarta. The plant’s approximately 230 employees will produce a wide range of injectable drugs needed in therapeutic areas including gynecology, anesthesia and intensive care. The products are planned for use by Indonesian patients and for export to other Southeast Asian countries. Fresenius Kabi employs a total of about 530 people in Indonesia.

Caspofungin, an antifungal medicine, expands the company's sterile injectable anti-infective portfolio.

  • Fresenius Kabi celebrated the 20-year anniversary of its Friedberg plant in the state of Hesse. Leftmost: Joachim Arnold, County Commissioner of the Wetterau region. Rightmost: Mats Henriksson, CEO of Fresenius Kabi.
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  • Since production began in 1997, the Fresenius Kabi site has produced more than two billion bottles and bags with infusion solutions, blood volume substitution agents and liquid drugs.
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  • More than 20 years ago: Construction of the high-rack warehouse (left, still without walls) and buildings for production.
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  • Industrial production of infusion solutions at Fresenius Kabi's plant in Friedberg, Germany.
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  • Industrial production of infusion solutions at Fresenius Kabi's plant in Friedberg. Visual check of freeflex® bags.
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Fresenius Kabi celebrated the 20-year anniversary of its Friedberg plant in the state of Hesse today. Since production began in 1997, the Fresenius Kabi site has produced more than two billion bottles and bags with infusion solutions, blood volume substitution agents and liquid drugs. These products are used in the therapy and treatment of critically and chronically ill patients.

The adjoining logistics center is the international hub for the company’s entire product line. Each day employees here fill roughly 2,000 orders. The logistics depot is equipped with a fully automated high-rack warehouse with space for 75,000 pallets. Shipments are assembled and packed in the semi-automated pick-and-drop area. From there they are shipped to wholesalers, pharmacies and hospitals in Germany, and worldwide to national subsidiaries of Fresenius Kabi.

Fresenius Kabi has invested about €150 million in the site – and continues to invest. The next step is expansion of the logistics center in response to increasing volume. The building will be expanded by 4,500 square meters (about 50.000 square feet) at a cost of six million euros. The expansion should be completed by early 2019.

Joachim Arnold, County Commissioner of the Wetterau region, acknowledged the importance of the plant for the region: “Fresenius Kabi has for many years been an important company and major employer. The ongoing investment represents job security and is also a tribute to the quality of this site.”

“We will continue the success story of Fresenius Kabi in Friedberg. The new investment expands the capacity of the logistics center to ship our products throughout the world. This means we can help more patients”, said Dr. Michael Schönhofen, member of the Fresenius Kabi Management Board and President of the Pharmaceuticals Division.

Fresenius Kabi currently employs about 750 people at the production site and logistics center in Friedberg, making it one of the largest employers in the Wetterau region. There are also roughly 40 trainees engaged as, for example, chemistry lab assistants, freight forwarders, logistics service providers and mechatronics technicians.

 

Fresenius Kabi has successfully closed the acquisition of Merck KGaA’s biosimilars business. The transaction comprises the entire development pipeline of Merck’s biosimilars and an experienced team of employees located in Aubonne and Vevey, Switzerland. The product pipeline has a focus on oncology and autoimmune diseases, and addresses a market with current annual branded sales of around US$30bn. The biosimilars business will be consolidated as of September 1, 2017.

The purchase price of €656 million will be mainly cash flow financed. Thereof, €156 million have been paid upon closing. Up to €500 million are milestone payments strictly tied to achievements of development targets in the coming years. The slight reduction in purchase price is related to phasing of R&D expenditures between signing and closing of the acquisition. These are now expected to amount to around €60 million from closing until year-end 2017. All clinical studies for the product pipeline are on track.

The transaction is estimated to be EBITDA break-even in 2022. From 2023 onwards, the acquisition is expected to be significantly accretive to Group net income1 and Group EPS1.

The relevant antitrust authorities have approved the transaction without imposing conditions.

 

1 Net income attributable to shareholders of Fresenius SE & Co. KGaA


 

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 Kabi has successfully closed the acquisition of Merck KGaA’s biosimilars business. The transaction comprises the entire development pipeline of Merck’s biosimilars and an experienced team of employees located in Aubonne and Vevey, Switzerland. The product pipeline has a focus on oncology and autoimmune diseases, and addresses a market with current annual branded sales of around US$30bn. The biosimilars business will be consolidated as of September 1, 2017.

The purchase price of €656 million will be mainly cash flow financed. Thereof, €156 million have been paid upon closing. Up to €500 million are milestone payments strictly tied to achievements of development targets in the coming years. The slight reduction in purchase price is related to phasing of R&D expenditures between signing and closing of the acquisition. These are now expected to amount to around €60 million from closing until year-end 2017. All clinical studies for the product pipeline are on track.

The transaction is estimated to be EBITDA break-even in 2022. From 2023 onwards, the acquisition is expected to be significantly accretive to Group net income and Group EPS1.

 

The relevant antitrust authorities have approved the transaction without imposing conditions.

1 Net income attributable to shareholders of Fresenius SE & Co. KGaA

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.

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.

 

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