DCC Healthcare acquires generic drugmaker Kent Pharma

Dublin, Ireland-based sales, marketing, distribution and business support services group DCC, says that its DCC Healthcare unit has reached conditional agreement to acquire privately held Kent Pharmaceutical, a UK generic pharmaceuticals company, based on an enterprise valuation of 71.2 million euros ($93.3 million). Completion of the acquisition is conditional, inter alia, on approval from the Irish Competition Authority and it is anticipated that the transaction will complete in early 2013.

Kent Pharma is involved in the development, manufacture, sales, marketing and distribution of generic pharmaceuticals for the British, Irish and international markets. It has a broad portfolio of its own licensed products with a particular focus on beta lactam antibiotics including penicillin V, flucloxacillin and amoxicillin, which are long established antibiotics typically used to treat bacterial infections such as throat, ear and respiratory tract infections. Kent Pharma is the market leader in these products in Britain and also operates a specialist beta lactam manufacturing facility located in Roscommon, Ireland (Athlone Pharmaceuticals). The balance of the product portfolio covers a broad range of therapy areas.

In its latest financial year ended August 31, 2012, Kent Pharma generated sales of 89.9 million euros, adjusted EBITDA of 10.7 million euros and adjusted operating profit of 9.3 million euros. At August 31, its adjusted net tangible operating assets were 26.4 million euros.