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22.07.2011

STADA Arzneimittel, Grünenthal Sign Contracts To Buy Branded Product Portfolio

German pharmaceutical company STADA Arzneimittel AG (STDAF.PK: News ,STDAY.PK: News ) and Grünenthal GmbH Friday said that they have signed the contracts on the purchase of a branded product portfolio including the associated sales structures for numerous national markets in Central and Eastern Europe as well as in the Middle East. The purchase price for the branded product portfolio including sales structures and various pipeline products amounts to a total of approx. 360 million euros in cash.

The products are for the most part prescription drugs and positioned primarily in the pain area of indication. The product portfolio to be acquired consists of over 14 own and licensed brands for Central and Eastern Europe as well as the Middle East.

Payment of the purchase price will be made at the time of completion of the acquisition. STADA will use cash on hand, free cash flow as well as existing free credit lines to finance the acquisition.

Source:  www.rttnews.com

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