STADA Arzneimittel AG and STADA subsidiary BEPHA Beteiligungsgesellschaft für Pharmawerte mbH signed a contract 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 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.
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.
