Almirall SAGrey Market
Wed, Sep. 21, 1:04 PM
- As previously reported, Bayer (OTCPK:BAYRY) aims to jettison its dermatology business in order to help fund its Monsanto buy. Although discussions are in the early phase, there appears to be plenty of interested parties. In addition to skincare-focused players like Allergan (NYSE:AGN), Almirall (OTC:LBTSF) and Nestle (OTCPK:NSRGY)(OTCPK:NSRGF), Teva Pharmaceutical Industries (NASDAQ:TEVA), Perrigo (NASDAQ:PRGO) and Sun Pharma (OTC:SMPQY) are also reportedly in the mix.
- On the institutional investor side, KKR (NYSE:KKR), Nordic Capital, Bain Capital, Blackstone Group (NYSE:BX) and Cinven may also be eyeing the unit which, analysts say, could fetch $1.1B.
- Previously: Bloomberg: Bayer eyes sale of $1.1B dermatology business (Sept. 8)
Thu, Sep. 8, 2:11 PM
- Monsanto (MON +1.3%) moves higher following a Bloomberg report that Bayer (OTCPK:BAYRY) is exploring the sale of its dermatology business, as the German company seeks to sell peripheral businesses to boost its pursuit of MON.
- The business could attract interest from existing makers of skincare products such as Nestle’s (OTCPK:NSRGY, OTCPK:NSRGF) Galderma, Allergan (NYSE:AGN) and Almirall (OTC:LBTSF) of Spain, as well as P-E firms, according to the report.
- Analysts say a sale of the unit could fetch more than €1B ($1.1B).
Mon, May 9, 9:18 AM
- Almirall SA (OTC:LBTSF): Q1 net income of €21.7M
- Revenue of €201M (-7.5% Y/Y)
Jul. 30, 2014, 3:18 AM
- AstraZeneca (NYSE:AZN) has closed on a deal to purchase the rights to lung drugs developed by Almirall (OTC:LBTSF), expanding the drug-maker's respiratory medicine portfolio.
- "Our agreement with Almirall brings strategic and long-term value to AstraZeneca's strong respiratory franchise, one of our key growth platforms," says CEO Pascal Soriot.
- The acquisition is worth up to $2.1B, with an initial $875M to be paid up front, and up to $1.2B in development.