Fresenius is expanding its production capacity in Southeast Asia. Fresenius Kabi, a market leader in infusion therapy and clinical nutrition, opened a new production facility in the coastal city Quy Nhon in central Vietnam today. Nearly 380 employees will work at the production facility. With the new plant, Fresenius Kabi will almost double its manufacturing capacity for infusion solutions and liquid medications. Most of these products are intended for the Vietnamese market. Investment costs totaled to approximately €20 million, and construction took about two years to complete.
Ulf Mark Schneider, CEO of Fresenius, said: "Health care systems in Vietnam and other countries in Southeast Asia are developing at a rapid pace, so there is a constantly increasing demand for Fresenius Kabi products in these countries. Our new plant in Quy Nhon will help us meet this demand and allow us to make a significant contribution to high-quality, yet affordable health care in the region."
The new plant replaces the existing Fresenius Kabi production facility in Quy Nhon. Jan Walter, managing director of Fresenius Kabi for Vietnam, Cambodia and Laos, explained: "Over the last three years, our sales in Vietnam have grown by more than 20 percent every year. The new plant in Quy Nhon will significantly increase our production capacity and has the country's most advanced production equipment for infusion solutions and liquid medications. So we are well equipped for the further growth that we expect to see at Fresenius Kabi in Vietnam over the next few years."
The new production facility covers 15,000 square meters. The manufacture of infusion solutions is already certified in line with GMP (good manufacturing practice) guidelines as set down by the World Health Organization. Most of the employees from the former plant will be taken over, and 45 new jobs are being created.
The Quy Nhon plant is run by Fresenius Kabi Bidiphar JSC, a joint venture between Fresenius Kabi and Bidiphar, a state-owned health care company based in Quy Nhon. Fresenius Kabi Bidiphar was founded on December 1, 2008, and Fresenius Kabi holds the majority of its shares and provides the management team. The joint venture is Vietnam's market leader in standard solutions and also enjoys a leading position in I.V. generic drugs. Other Fresenius Kabi products made outside Vietnam are sold through a separate entity in Ho Chi Minh City. Overall, Fresenius Kabi employs nearly 500 people in Vietnam.
Fresenius is a health care group with international operations, providing products and services for dialysis, hospital and outpatient medical care. In 2010, Group sales were approximately €16.0 billion. On June 30, 2011 the Fresenius Group had 142,933 employees worldwide.
Fresenius Kabi is the market leader in infusion therapy and clinical nutrition in Europe and holds leading positions in important countries of Latin America and the Asia-Pacific region. Within I.V. generic drugs, Fresenius Kabi counts among the leading suppliers in the US market. Fresenius Kabi is focused on the therapy and care of critically and chronically ill patients inside and outside the hospital. Its portfolio comprises a wide range of IV drugs, infusion therapies, clinical nutrition products as well as the related medical devices. With a corporate philosophy of "caring for life," the company's goal is to improve the patient's quality of life.
Fresenius Kabi has 23,670 employees worldwide (June 30, 2011). In 2010, Fresenius Kabi's sales were €3,672 million and the company's EBIT was €737 million. Fresenius Kabi AG is a 100% subsidiary of the health care group 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, a business segment of health care group Fresenius, continues its growth strategy in intravenously administered drugs (i.v. drugs). The company today announced the acquisition of 73.3 % of the share capital of the Indian company Dabur Pharma Ltd. for a price of INR 8,782 million (€ 139 million) or INR 76.50 per share in cash. In accordance with Indian regulations, Fresenius Kabi also announced a public offer to acquire up to a further 20 % shareholding for a price of INR 76.50 per share in cash. Fresenius Kabi has entered into an agreement with a third party to secure the participation of 2.4 % of Dabur Pharma's share capital in the public offer.
Dabur Pharma, headquartered in New Delhi, is one of the leading suppliers of generic drugs and active pharmaceutical ingredients (API) to treat cancer. The company holds a substantial number of drug registrations in Asia, Europe and the US. Dabur Pharma is also one of the few manufacturers worldwide to hold international registrations for all steps within the manufacturing process of cytostatic agents. The company operates two production facilities in India and one in Great Britain as well as a research and development center equipped in accordance with European and US standards near New Delhi.
The acquisition significantly expands Fresenus Kabi's i.v. drug portfolio and secures its supply of high quality APIs for cytostatics. With the acquisition of Dabur Pharma, Fresenius Kabi will also broaden its offering of patient-specific oncology therapies. In future, Dabur Pharma will supply Fresenius Kabi's compounding centres in Europe, Asia-Pacific and Latin America where patient-specific formulations of i.v. drugs and parenteral nutrition are being prepared for cancer patients.
Dabur Pharma is listed on the Bombay Stock Exchange and on the National Stock Exchange of India. The company achieved sales of more than € 41 million with generic oncology drugs and APIs in fiscal year 2006/2007 (April 1, 2006 to March 31, 2007) and employs about 960 people. Dabur Pharma pursues an international growth strategy and will benefit from Fresenius Kabi's international sales and marketing organization going forward. In addition, Dabur Pharma will continue to be focused on expanding its research and development.
The acquisition will be entirely debt-financed from funds that have already been procured. The transaction is expected to be accretive to Fresenius Group's Cash EPS in 2 - 3 years.
Closing of the transaction is subject to completion of the public offer process in line with local regulations as well as relevant approvals required under Indian law. This is expected to occur at the beginning of Q3 2008.
Conference Call
A conference call to inform about the acquisition will be held on April 21, 2008 at 4.00 p.m. CEDT. All investors are cordially invited to follow the conference call in a live broadcast over the Internet at www.fresenius.com / Investor Relations / Presentations. A replay of the call will be available on our website shortly after the call.
Group Cash EPS: before transaction-related amortization of intangible assets.
About Fresenius Kabi
Fresenius Kabi is the leader in infusion therapy and clinical nutrition in Europe and in its most important countries of Latin America and Asia Pacific. Fresenius Kabi's core product range includes infusion solutions for fluid substitution, blood volume expansion and parenteral nutrition, as well as products for enteral nutrition. Furthermore, the company provides concepts for ambulatory health care and is focused on managing and providing home therapies. With its philosophy "Caring for life" and a comprehensive product portfolio, the company aims at improving the quality of life of patients all over the world. On December 31, 2007 the company had 16,964 employees. In 2007, Fresenius Kabi achieved sales of € 2,030 million and an operating profit of € 332 million. Fresenius Kabi AG is a 100 % subsidiary of the health care group Fresenius SE.
About Dabur
Dabur Pharma Ltd. is committed to the discovery, development and marketing of drugs that fight cancer. Dedicated to its mission of making cancer therapy available to more and more people, it has been expanding ever since inception. The company is the leader in the Indian oncology market and it offers a complete range of products in this segment spanning across injectables, orals, intermediates and APIs and is present in over 40 countries. As of March 31, 2008, the company has 156,669,800 shares outstanding.
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, a business segment of the health care group Fresenius, has signed definitive agreements to acquire APP Pharmaceuticals, Inc. APP is a leading manufacturer of intravenously administered generic drugs (I.V. generics) in North America. The company is listed on the NASDAQ Stock Market.
APP shareholders will receive a Cash Purchase Price of US$ 23.00 per share and a registered and tradeable Contingent Value Right (CVR) that could deliver up to US$ 6.00 per share, payable in 2011, if APP exceeds a cumulative adjusted EBITDA target for 2008 to 2010.
Based on the Cash Purchase Price, the transaction values the fully diluted equity capital of APP at approximately US$ 3.7 billion. Fresenius expects the acquisition to be neutral to EPS in the first year and clearly accretive from the second year onwards.
The acquisition is an important step in Fresenius Kabi's growth strategy. Through the acquisition of APP, Fresenius Kabi enters the U.S. pharmaceuticals market and achieves a leading position in the global I.V. generics market. This North American platform provides further attractive growth opportunities for Fresenius Kabi's existing product portfolio.
APP focuses on I.V. generics for hospital use and distributes its products in the U.S. and Canada. The company employs around 1,400 people and has state-of-the-art production facilities in Illinois, New York and Puerto Rico as well as a subsidiary in Toronto, Canada.
With a portfolio of more than 100 products, comprising drugs for oncology, intensive care, anaesthesia, analgesia as well as drugs for the treatment of infections, APP holds an important position in the North American hospital market. The company has a strong drug registration pipeline covering all of its product segments.
In 2007, APP achieved sales of US$ 647 million and an adjusted EBITDA of US$ 253 million. The company's latest published guidance for 2008 forcasts sales in a range of US$ 730 million to US$ 750 million and an adjusted EBITDA in a range of US$ 285 million to US$ 300 million.
As part of this transaction APP will merge with a U.S. subsidiary of Fresenius Kabi. The definitive agreements include a written consent and voting agreement with Dr. Patrick Soon-Shiong, APP's founder and shareholder of over 80 % of the outstanding stock. The transaction has been approved by APP's Board of Directors.
Following the closing of the transaction, Patrick Soon-Shiong will serve as a non-executive director on the Board of Fresenius Kabi's U.S. Holding company. In this role, he will continue to contribute to the company's strategic development.
Dr. Ulf Mark Schneider, Chairman of the Management Board of Fresenius SE commented: "APP is a fast-growing, highly profitable company and a strong management team that has an excellent market position in the U.S. Our firm very much shares APP's dedication to quality and medical excellence for the benefit of patients. The acquisition provides significant growth opportunities for Fresenius Kabi. With the APP platform, Fresenius Kabi will be able to market its product range in the U.S. Fresenius Kabi's international marketing and sales network will allow us to sell APP's products globally. We welcome APP employees to our team and very much look forward to serving the North American healthcare community."
Patrick Soon-Shiong said: "We are proud to have consistently provided injectable pharmaceutical products of the highest quality to patients in the acute care setting over the past decade. In Fresenius we have found a partner with the same commitment to quality and dedication to patient care. The combined company will allow for the rapid globalization of APP's portfolio with the same high levels of quality and patient commitment for which we have become known, while at the same time providing a more comprehensive and complementary offering of injectable pharmaceuticals, devices and delivery systems to customers worldwide."
It is planned to finance the acquisition with a mix of debt and equity, targeted to minimize the impact on Fresenius SE's credit ratings. However, given Fresenius' rapid progress in de-levering since 2006, the largest portion of the financing will consist of debt instruments.
Financing commitments for the total amount have been received from Deutsche Bank, Credit Suisse and JP Morgan. Details of the financing plan will be published in the coming weeks. Deutsche Bank acts as Global Coordinator of the financing and as sole M&A advisor to Fresenius.
The transaction is subject to certain closing conditions, including regulatory approvals, and approvals under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Fresenius anticipates closing the transaction at the end of 2008 or beginning of 2009.
Conference Call
A conference call to inform about the acquisition will be held today at 2.30 p.m. CEDT / 8.30 a.m. EDT. All investors are cordially invited to follow the conference call in a live broadcast over the Internet at www.fresenius.com / Investor Relations / Presentations. A replay of the call will be available on our website shortly after the call.
EPS: before one-time transaction-related depreciation charges and assuming a 2008 closing.
Adjusted EBITDA: EBITDA before one-time expenses and stock-option expenses, as published by APP in Form 8-K, March 10, 2008, as of Dec 31, 2007.
This release does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Fresenius SE ("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 of 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 SE may not be offered or sold in the United States of America absent registration under the Securities Act of 1933 (which Fresenius SE does not intend to effect) or pursuant to an exemption from registration.
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. This includes the risk that the transaction will not be consummated or on other terms. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
This document is directed at and/or for distribution in the U.K. only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being together referred to as "relevant persons"). This document is directed only at relevant persons. Other persons should not act or rely on this document or any of its contents.
The information contained herein is not for publication or distribution in Canada, Australia or Japan and does not constitute an offer of securities for sale in Canada, Australia or Japan.
Fresenius Kabi has successfully closed the acquisition of Dabur Pharma Ltd. In April 2008, the company had announced the acquisition of 73.3 % of the share capital for a price of INR 76.50 per share in cash. Fresenius Kabi has now acquired a further 17.6 % shareholding for a price of INR 76.50 per share in cash through a public offer. Closing of the transaction had also been subject to relevant approvals required under Indian law, which have been received.
The acquisition significantly expands Fresenus Kabi's i.v. drug portfolio and secures its supply of high quality APIs for cytostatics. Dabur Pharma, headquartered in New Delhi, is one of the leading suppliers of generic drugs and active pharmaceutical ingredients (API) to treat cancer. The company holds a substantial number of drug registrations in Asia, Europe and the US.
Dabur Pharma had consolidated revenues of about € 47 million in fiscal year 2007/2008 (April 1, 2007 to March 31, 2008).
Dabur Pharma will be consolidated as from September 1, 2008 in the financial statements of Fresenius Group.
About Fresenius Kabi
Fresenius Kabi is the leader in infusion therapy and clinical nutrition in Europe and in its most important countries of Latin America and Asia Pacific. Fresenius Kabi's core product range includes infusion solutions for fluid substitution, blood volume substitution and intravenously administered drugs as well as parenteral and enteral nutrition. Furthermore, the company provides concepts for ambulatory health care and is focused on managing and providing home therapies. With its philosophy "Caring for life" and a comprehensive product portfolio, the company aims at improving the quality of life of patients all over the world. In 2007, Fresenius Kabi achieved sales of € 2,030 million and an operating profit of € 332 million. On June 30, 2008 the company had 18,323 employees.Fresenius Kabi AG is a 100 % subsidiary of the health care group Fresenius SE.
About Dabur
Dabur Pharma Ltd. is committed to the discovery, development and marketing of drugs that fight cancer. Dedicated to its mission of making cancer therapy available to more and more people, it has been expanding ever since inception. The company is the leader in the Indian oncology market and it offers a complete range of products in this segment spanning across injectables, orals, intermediates and APIs and is present in over 40 countries. As of June 30, 2008, the company has 156,677,400 shares outstanding.
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.
BAD HOMBURG v.d.H., Germany and SCHAUMBURG, Illinois, USA — Fresenius SE and APP Pharmaceuticals, Inc., have received confirmation that the U.S. Federal Trade Commission (FTC) has completed its review of the proposed acquisition of APP Pharmaceuticals by Fresenius Kabi, a business segment of Fresenius SE. The FTC granted early termination of the waiting period under the Hart-Scott-Rodino Act without conditions. The German antitrust authorities had already approved the acquisition.
On July 7, 2008, Fresenius had announced the acquisition of APP Pharmaceuticals, an important step in the growth strategy of Fresenius Kabi. With the FTC review complete, Fresenius and APP expect the transaction to close mid September 2008, subject to certain other customary closing conditions.
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. This includes the risk that the transaction will not be consummated or on other terms. Neither Fresenius nor APP undertakes any responsibility to update the forward-looking statements in this release.
ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT
In connection with the proposed merger, Fresenius Kabi Pharmaceuticals Holding, Inc. and APP have filed relevant materials with the SEC, including a registration statement that contains a joint prospectus and information statement. Investors and security holders are urged to read these documents and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they contain important information. Investors and security holders may obtain these documents free of charge at the SEC's website at www.sec.gov. Investors and security holders are urged to read the joint information statement/prospectus and the other relevant materials before making any investment decision with respect to the proposed merger.
Fresenius Kabi, a business segment of Fresenius SE, has completed the acquisition of APP Pharmaceuticals, Inc.
The acquisition is an important step in Fresenius Kabi's growth strategy. Through APP, Fresenius Kabi enters the U.S. pharmaceuticals market and achieves a leading position in the global I.V. generics industry.
Dr. Ulf Mark Schneider, Chairman of the Management Board of Fresenius SE, said: "We are pleased to be able to complete this major transaction in a very short time. Now we are focused on successfully integrating APP and further developing the business. Fresenius and APP share a deep commitment to highest-quality products and medical excellence."
The closing follows completion of the U.S. Federal Trade Commission's (FTC) review of the acquisition. The FTC granted early termination of the waiting period under the Hart-Scott-Rodino Act without conditions. Earlier, German antitrust authorities had also approved the transaction.
Fresenius Kabi had announced the agreement to acquire Schaumburg, Illinois-based APP Pharmaceuticals, Inc., on July 7, 2008.
Fresenius Group expects to consolidate APP Pharmaceuticals in its financial statements as of September 1, 2008.
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. This includes the risk that the transaction will not be consummated or on other terms. Neither Fresenius nor APP undertakes any responsibility to update the forward-looking statements in this release.
ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT
In connection with the proposed merger, Fresenius Kabi Pharmaceuticals Holding, Inc. and APP have filed relevant materials with the SEC, including a registration statement that contains a joint prospectus and information statement. Investors and security holders are urged to read these documents and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they contain important information. Investors and security holders may obtain these documents free of charge at the SEC's website at www.sec.gov. Investors and security holders are urged to read the joint information statement/prospectus and the other relevant materials before making any investment decision with respect to the proposed merger.
Fresenius Kabi, a European leader in infusion therapy and clinical nutrition, has entered into an agreement with Kyorin Pharmaceutical Co. Ltd., Tokyo, Japan, to acquire its artificial colloid product business. Fresenius Kabi acquires the rights for the production, marketing and sale of these products. Kyorin's artificial colloids sales were € 5.2 million in the fiscal year ended March 31, 2006. The colloids are based on hydroxyethyl starch (HES) and are mainly used in surgical and emergency procedures to substitute blood loss. Kyorin is the only provider of HES products for blood volume replacement in Japan.
In addition, Fresenius Kabi is currently setting up a subsidiary in Tokyo for the marketing and distribution of the acquired products as well as its own product portfolio in Japan. The new subsidiary will allow Fresenius Kabi to enhance its presence in the world's second largest healthcare market.
"In Japan, we are focusing on the intensive care and acute care hospital segments. Kyorin's artificial colloids will perfectly complement Fresenius Kabi's product range. With these products, we will enter the Japanese blood-volume replacement market for the first time. We believe that the high medical benefits and the strong patient safety profile of HES products offer excellent growth opportunities in this attractive market segment", said Mats Henriksson, President of Fresenius Kabi's Asia-Pacific region.
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About Kyorin
Kyorin is a pharmaceutical company with a long-standing tradition in healthcare. The company is focused on the marketing and sale of drugs for respiratory, otolaryngologic (ear, nose and throat medicine) and urologic diseases.
As of March 31, 2006 (end of the fiscal year), Kyorin Pharmaceutical Co. Ltd. achieved sales of 67.4 bn JPY (approximately € 440 million) and employed 1,502 people worldwide. Kyorin Pharmaceutical Co., Ltd. is a 100% subsidiary of Kyorin Co. Ltd. Kyorin Co. Ltd. is listed on the Tokyo Stock Exchange.
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, a subsidiary of Fresenius SE, has reached an agreement to acquire Nestlé's enteral nutrition businesses in France (Novartis Nutrition S.A.S.) and in Spain (Nestlé Healthcare Nutrition Spain). With this acquisition, Fresenius Kabi strengthens its fast-growing segment Clinical Nutrition and significantly expands its market position in France and Spain.
Novartis Nutrition holds a leading position on the French enteral nutrition market and offers a comprehensive portfolio of sip and tube feeds and corresponding medical devices. With this acquisition, Fresenius Kabi will significantly improve its market position and will become the second largest provider of enteral nutrition products in France.
Nestlé Healthcare Nutrition Spain has successfully established itself as a renowned provider of enteral nutrition products in the Spanish market during the last few years. The acquisition will provide Fresenius Kabi with access to the Spanish enteral nutrition market.
In 2007, the businesses are projected to achieve combined sales of approximately € 55 million.
The European Commission made the divestiture of the businesses a condition in connection with Nestlé's acquisition of the worldwide clinical nutrition business of Novartis. Completion of the transaction was subject to both the approval of the European Commission and consultation and information of employees' representatives in France and Spain, all of which have now been satisfactorily completed.
The parties agreed not to disclose the purchase price.
The transaction is expected to close in 2007.
Clinical Nutrition:
In clinical nutrition Fresenius Kabi provides parenteral nutrition (administered intravenously) and enteral nutrition (administered as sip or tube feed via the gastrointestinal tract) as well as nutrition pumps and infusion disposables.
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, a subsidiary of Fresenius SE, has reached an agreement to acquire the Chilean company Laboratorio Sanderson S.A. Sanderson is the Chilean market leader in intravenously administered generic drugs (I.V. drugs) and infusion solutions.
Fresenius Kabi already holds the leading market position in blood volume replacement solutions, intravenous anesthesia, and parenteral nutrition in Chile. Sanderson offers a high-quality range of antibiotics, analgesics, anesthetics and infusion solutions in Chile and other Latin American countries.
Through the acquisition Fresenius Kabi significantly expands its local product range and will become the leading infusion therapy provider in the Chilean hospital market. At the same time, Sanderson's product line, which is approved in Latin America, provides further excellent growth opportunities. The company's state-of-the-art production unit in Santiago de Chile facilitates Fresenius Kabi's product program rollout and its expansion into other Latin American countries.
Sanderson is privately-held and employs about 375 people in Chile and its subsidiary in Peru. It expects sales of € 19 million in 2007.
The acquisition is expected to close in January 2008.
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, a subsidiary of Fresenius SE, has reached an agreement to acquire the Italian company Ribbon S.r.L. Ribbon is a leading European manufacturer of the antibiotic agent classes cephalosporines and penicillines with two state-of-the-art production facilities in northern Italy.
In the field of intravenously administered drugs (I.V. drugs) Fresenius Kabi offers, among others, a comprehensive range of products with the antibiotic agents cephalosporines and penicillines. With the acquisition of Ribbon, Fresenius Kabi becomes one of the few I.V. drug suppliers globally who have know-how and manufacturing expertise along the entire pharmaceutical value chain. The acquisition is a further step in the company's generic I.V. drug growth plan and significantly strengthens Fresenius Kabi's market position. At the same time, the company is ensuring its own supply of high-quality active agents for its antibiotic products.
Dr. Ulf M. Schneider, Chairman of the Management Board of Fresenius SE: "With the acquisition of Sanderson in Chile announced last week and today's acquisition of Ribbon we continue our Fresenius Kabi growth strategy. Sanderson provides an excellent platform for further expansion in Latin America. The Ribbon acquisition strengthens our position in the intravenously administered drug market and is an important step towards achieving quality and cost leadership in this product segment."
Ribbon is headquartered in Milan and has about 130 associates. The company is privately-held and expects sales of approximately € 54 million in 2007.
The transaction is expected to close in January 2008.
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.