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Dechra Pharmaceuticals Closes EUR 340m Acquisition of AST Farma and Le Vet.

M2 EQUITYBITES-February 20, 2018-Dechra Pharmaceuticals Closes EUR 340m Acquisition of AST Farma and Le Vet

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20 February 2018 - UK-based veterinary pharmaceuticals maker Dechra Pharmaceuticals plc (LSE: DPH) has closed the acquisition of Dutch companion animal pharmaceutical firm AST Farma and Le Vet for a total consideration of EUR 340m (USD 422.33m) on a debt-free and cash-free basis, the company said.

The total consideration will be satisfied approximately 75% in cash and 25% in new Dechra Shares, which are subject to a two year lock-in.

AST Farma is one of the leading companion animal pharmaceutical companies in the Netherlands, focused on generic and generic plus products.

The business and its reputation have grown strongly through launching generic plus, generic and niche novel products, and by offering added value services to veterinarians.

Le Vet has focused on the European markets outside of the Netherlands.

Working in partnership with AST Farma, Le Vet has developed a strong portfolio of products, and established a network of marketing partners across Europe, including Dechra, to sell them.

AST Farma and Le Vet together hold approximately 90 product registrations.

Dechra is an international specialist veterinary pharmaceuticals and related products business. Its expertise is in the development, manufacture and sales and marketing of products exclusively for veterinarians worldwide.

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Publication:M2 EquityBites (EQB)
Date:Feb 20, 2018
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