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Aptalis files for $500M IPO

  • CF and GI-focused Aptalis Holdings (APTA) (formed when TPG merged Axcan with Eurand two years ago) files for a $500M IPO.
  • TPG acquired the company in 2008 and has a 91% stake.
  • The PE firm attempted to sell the company for $3-4B in October, a bid that ultimately failed.
  • Sales rose ~12% to $667M in the year ended September 30.
  • Net income for the year came in at $87M ($1.26 per share) versus a net loss of $12M in 2012.
  • S-1
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