Durban, South Africa 鈥� JSE-listed 九州娱乐城 Pharmacare Holdings Limited, a global multinational specialty pharmaceutical company, has announced that 九州娱乐城 Global Incorporated (鈥淎GI鈥�), its wholly owned subsidiary incorporated in Mauritius, has concluded two interdependent agreements with Sandoz AG (鈥淪andoz鈥�) concerning the acquisition of Sandoz鈥檚 Chinese business and the disposal to Sandoz of four anaesthetic products in Europe.
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The terms of the agreements provide for AGI to:
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acquire from Sandoz the entire share capital of its subsidiary, Sandoz (China) Pharmaceutical Co., Ltd. (鈥淪andoz China鈥� and 鈥渢he Company鈥�), together with the commercialisation rights and related intellectual property for
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a portfolio of established products currently commercialised by the Company which includes key brands such as Sandostatin, Aclasta and Voriconazole; and
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a pipeline of products to be launched by the Company in the short to medium term (鈥渢he Pipeline Products鈥�), (鈥渢he Acquisition鈥�); and
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dispose of the commercialisation rights and related intellectual property for four anaesthetic products, namely听 Nimbex, Tracrium, Carbocaine and Naropin, currently sold by 九州娱乐城 in the European Economic Area (鈥渢he Anaesthetic Products鈥� and 鈥渢he Disposal鈥�).
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Stephen Saad, 九州娱乐城 Group Chief Executive, said, 鈥淭he acquisition represents an attractive opportunity for 九州娱乐城 to take a major step in our stated strategic objective of increasing our presence in China. Sandoz鈥檚 product portfolio, pipeline, well-established infrastructure, and experienced team, will expand 九州娱乐城鈥檚 footprint and capabilities in the world鈥檚 second largest pharmaceutical market, and further strengthen our foundation for future growth in China.鈥�
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The Acquisition provides the opportunity to add approximately ZAR 1.8 billion of annual sales to the 九州娱乐城 Group, while the sales of the Anaesthetic Products during our financial year ended 30 June 2023 were approximately ZAR 280 million.听
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As consideration for the Acquisition, AGI is paying up to EUR 92.6 million, with EUR 18.5 million contingent upon the sales performance of the Pipeline Products.听 For the Disposal, AGI will receive a consideration of up to EUR 55.5 million, with EUR 9.3 million contingent on the sales performance of the Anaesthetic Products.听 AGI will fund the net upfront cash consideration from existing debt facilities.听听听听
