Russian billionaire to acquire South African drugmaker Ascendis Health assets

Russian billionaire Mikhail Fridman, together with partners, is acquiring the European assets of South African pharmaceutical manufacturer Ascendis Health (JSE: ASC). The takeover takes place as part of the recapitalization of a debt-ridden holding, reports The Pharma Letter’s local correspondent.

So far, the partners have filed a petition with the Competition Commission of the Republic of Cyprus to acquire the assets of the South African pharmaceutical holding Ascendis Health.

The main interest of bidders is related with the Cypriot-based generic drug maker Remedica, Spanish firm Farmalider, and Sun Wave Pharma, which manufactures and distributes drugs and nutritional supplements in the number of the European Union states.