Nycomed buys Germany's Altana Pharma for a massive DKK 31.6 billion  

2006.09.25
Denmark's third biggest pharmaceutical company, Nycomed, has acquired the German medical giant Altana Pharma in one of the biggest takeovers seen in the Danish pharma industry

Denmark's third biggest pharmaceutical company, Nycomed, has acquired the German medical giant Altana Pharma for DKK 31.6 bn (USD 5.4 bn) – one of the biggest takeovers yet seen in the Danish pharma industry. Nycomed, owned by Nordic Capital, Credit Suisse Group's private equity arm and Blackstone Capital Partners, has been pursuing a strategy of growth through acquisition in recent years in a bid to become a significant player in the European market.

Commenting on the move, Nycomed's chief executive Håkan Björklund said: "Both Nycomed and Altana are successful, growing companies with complimentary businesses. Combining the two companies will give us a leading position in our European home markets and a solid platform for growth in some of the world's most attractive markets for pharmaceuticals - including Russia and South America."

Prior to the buyout Nycomed and Altana already had business connections, with Nycomed marketing Altana Pharma's ulcer drug Pantoprazol in the Nordic region, Benelux and Austria. The patent on Pantoprazol expires in 2009, but Altana has high hopes of its respiratory drugs Alvesco and Daxas creating substantial future earnings.

The news was reported by national daily newspaper Berlingske Tidende.

Link > Nycomed 

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