Ascendis buys up more European pharma businesses

Last year, Ascendis bought Cyprus-based, Remedica Holdings and European sports nutrition business Scitec International for a combined €430m.

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Dr Karsten Wellner, Ascendis CEO, believes his company can extract an approximate 20% Ebitda margin from this acquisition and believes the product portfolio from Sunwave Pharma and NHP Pharma will offer Ascendis many potential synergies as well as value-adding cross-selling opportunities in its wellness and OTC ranges and vice versa. In addition, he is confident Sunwave’s successful distribution model can be replicated across other Eastern European countries.

In addition, Ascendis also finalised its deal to buy Cipla Agrimed and Cipla Vet for R375m. This acquisition has a potential adjustment to the price tag in relation to actual working capital, net debt and audited profits achieved for the period ended 31 March 2017. The Cipla Agrimed and Cipla Vet transaction became officially unconditional on 1 June 2017.