Mon, Jul. 11, 8:25 AM
- Tokyo-based Nichi-Iko Pharmaceutical has inked an agreement to acquire Sagent Pharmaceuticals (NASDAQ:SGNT) for ~$736M or $21.75 per share. The all-cash tender offer will commence within 15 business days.
- The deal will enhance Nichi-Iko's presence in the U.S. market, specifically in injectables and, eventually, biosimilars.
- Sagent is up 39% premarket on robust volume.
Dec. 31, 2015, 6:03 PM
- Sagent Pharma's (NASDAQ:SGNT) board has authorized the company to sell its Sagent (China) Pharmaceuticals unit, also known as SCP. (8-K filing)
- Back in 2013, Sagent bought the 50% of SCP (then known as KSCP) it didn't own from JV partner Chegdu Kanghong Pharma for $25M. At the time, the company argued fully owning the business and its Chengdu, China manufacturing plant "better serves Sagent's long-term strategic goals, including a strategy of additional investment in product development and capacity expansion." Later that year, SCP began manufacturing an antineoplastic agent called Carboplatin.
Oct. 2, 2014, 8:27 AM
- Sagent Pharmaceuticals (NASDAQ:SGNT) acquires Montreal-based Omega Laboratories Ltd. for C$95M ($85.3M) in cash. The transaction expands the company's line of generic injectables.
- Omega's 2013 revenues were C$36.5M. It markets 93 products in 40 countries and plans to launch 26 generic injectable drugs between now and 2019.
- The deal will be immediately accretive to cash earnings.