Sigma suitor revealed
May 24, 2010
THE company which has made a
“non-binding, indicative and
conditional proposal” to take over
Sigma Pharmaceuticals (PD Friday)
has been revealed as South African
pharmaceutical giant Aspen
Pharmacare.
The 60c per share bid values
Sigma at just over $700 million,
and saw the company’s shares soar
almost 40% on Fri to 48c each - still
significantly below the offer price.
Aspen is the largest listed
pharmaceutical company in South
Africa, worth around US$5 billion,
and commenced operations in
Australia in 2001, expanding its
range to cover products such as
Keflex, Redipred, Di-Gesic, Tazac,
Tritace, Cardizem, Gastrostop,
Murine and Phisohex.
Aspen also has a strategic
partnership with Novartis and sales
and marketing pacts with other
companies including Abbott,
Sanofi-Aventis and Teva.
Sigma, trading at its lowest price
ever due to its recent travails, has
also been made more attractive to
foreign acquirers due to the plunge
in the Australian dollar.
The above article was sent to subscribers in Pharmacy Daily's issue from 24 May 10To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 24 May 10
