Stada Arz buys UK OTC manufacturer
German generic and branded drugmaker Stada Arzneimittel (SAZ: GR) signed and concluded a contract for the purchase of Thornton & Ross, a British OTC a UK manufacturer of over-the-counter (OTC) medicines located in Huddersfield, after STADA and the owners had already announced exclusive contract negotiations on this issue on August 6, 2013.
The purchase price amounts to £221,117,910 in cash. This corresponds to £193 million on a so-called cash and debt-free basis. Thornton & Ross has a number of well-known prescription-free (OTC) branded products for a wide variety of indications – among other things, cold, pain and dermatology.
Sales will presumably be consolidated in the Stada Group as of September 1, 2013. From that date, the transaction will also make a positive contribution to net income, the German company said.
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