Hospira to acquire Maybe Pharma in US$2bn deal
Hospira, global hospital products company, is to acquire Australia-based specialty injectable pharmaceuticals company Mayne Pharma.
Hospira, global hospital products company, is to acquire Australia-based specialty injectable pharmaceuticals company Mayne Pharma.
Under the terms of the agreement, Mayne shareholders will receive AUD$4.10 cash per outstanding ordinary share of Mayne, or a total equity consideration of approximately AUD$2.6bn (US$2bn), including options. The transaction represents a 32 percent premium over Mayne's Sept. 18, 2006, closing price.
'This combination will create the leading generic injectable pharmaceuticals company in the world,' said Christopher Begley, Hospira ceo.
'The Mayne acquisition more than doubles Hospira's international presence and significantly accelerates the expansion of our generic injectables business,' Begley added.
Hospira hopes that its acquisition of Mayne will accelerate Hospira's global expansion, expand and solidify Hospira's oncology presence, provide the company with potent/cytotoxic manufacturing and r&d capabilities, and increase the number and availability of generic injectable drugs in its portfolio.
'We look forward to welcoming our Mayne colleagues to Hospira and fully expect their talents and skill sets to contribute to our future success,' said Begley.
