Danish pharma firm seeks investors to prepare for an IPO  

2009.06.26
Danish speciality pharmaceutical company IPC International is looking for investors to raise DKK 200m to buy up companies as part of a plan to make an IPO in about a year
Danish speciality pharmaceutical company IPC International is looking for investors to raise DKK 200m (USD 37.6m) to buy up companies as part of a plan to make an IPO in about a year, reports financial daily newspaper Børsen. IPC International generated revenue of DKK 23m (USD 4.3m) last year and forecasts an increase to DKK 40m (USD 7.5m) this year and DKK 125m (USD 23.5m) next year.

Claus Møller, MD of IPC International says that if the company manages to gain fresh capital it will exclusively be used for acquisitions.
 
"I reckon that we can buy revenue of between 100 and 200 million kroner during the next 12 months, if we manage to raise capital. We have identified three companies with which we are progressing negotiations. If we are going to make acquisitions, we have to strengthen the capital base."
 
IPC International's ambition is to develop the company into a Danish version of Sweden's Meda, which is generating revenues of DKK 10.3bn (USD 1.9bn) from sales of niche pharmaceuticals. IPC International's focus is on drugs which do not generate more than DKK 30-40m (USD 5.6m-7.5m) in the Nordic region, and of these there are more than 500. The company is however also interested in buying drugs that are in the late development phase.
 
"It must be drugs that are already validated so we know they work, but where the last link is missing to get them commercialised," says Møller.
 
IPC International has just acquired biotech company Natimmune at a price of around DKK 50m (USD 9.4m), paid with shares in IPC.
 
Link > IPC International        

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