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Consort Medical announces proposed acquisition of Aesica Pharmaceuticals.

M2 PHARMA-October 1, 2014-Consort Medical announces proposed acquisition of Aesica Pharmaceuticals


Consort Medical plc, a UK-based healthcare company, announced yesterday that it has agreed terms to acquire the entire share capital of Aesica Pharmaceuticals Limited, a UK-based pharmaceutical company.

The deal is valued at GBP230 million, and the closing of the transaction, which is expected to occur in November, is conditional on the approval of Consort Medical's shareholders and clearance by the German competition authorities.

Consort Medical plc develops and manufactures disposable medical devices for drug delivery, including inhaled, nasal and injectables products through its core operating division, Bespak.

Aesica provides contract development and manufacturing services for Finished Dose and Active Pharmaceutical Ingredients ("API") to the global pharmaceutical industry.

Jon Glenn, Consort Medical plc's CEO said: 'We are excited by the acquisition of Aesica which represents a very strong fit with our existing strategy of diversifying into adjacent markets and technologies to capture additional value in the drug/device supply chain. As one of Europe's leading pharmaceutical CDMOs, Aesica is highly complementary to Bespak's existing business and provides a number of clear strategic, competitive and value-enhancing benefits for the Enlarged Group.'

(EUR1 = GBP0.79)

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Publication:M2 Pharma
Date:Oct 1, 2014
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