Sector News

Stada starts talks with bidders Advent, Cinven

February 14, 2017
Life sciences

Stada Arzneimittel AG Monday said it has begun talks with Cinven Partners LLP and Advent International Corporation, two separate bidders interested in acquiring up to 100% of the German pharmaceutical company.

The company said it received expressions of interest from both Cinven and Advent International and has initiated talks to allow them to discuss strategies and a potential offer price.

Stada said late Sunday it was weighing an approach from Cinven that valued its stock at 3.5 billion euros ($3.7 billion), as well as an approach from a second potential bidder that it didn’t name at the time. The Cinven offer had an indicative price of EUR56 per share, Stada said.

Shares surged 14% higher at the start of trading Monday on the news.

“Both legally non-binding expressions of interest (from the companies), which the Executive Board considered for some time, could offer in different ways attractive opportunities in the interest of the company,” Stada said.

Stada, which makes the cold treatment Grippostad, has been long been considered a possible takeover target for bigger rivals and private-equity firms. It had revenue of EUR2.12 billion in 2015.

By Sarah Sloat

Source: MarketWatch

comments closed

Related News

September 25, 2022

Rise of the machines: Novo Nordisk pledges $200M to create first quantum computer for life sciences

Life sciences

Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.

September 25, 2022

Mount Sinai AI uncovers new brain analysis method to predict dementia, Alzheimer’s disease

Life sciences

Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.

September 25, 2022

New AstraZeneca-backed report finds big money behind diverse owners and entrepreneurs in Europe

Life sciences

There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.