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September 9, 2015

Canada’s Concordia Healthcare to acquire UK drugmaker Amdipharm for $3.5bn

Ontario-based Concordia Healthcare has entered a definitive agreement with European private equity firm Cinven to acquire UK drugmaker Amdipharm Mercury (AMCo) for approximately $3.5bn.

Ontario-based Concordia Healthcare has entered a definitive agreement with European private equity firm Cinven to acquire UK drugmaker Amdipharm Mercury (AMCo) for approximately $3.5bn.

Concordia is expected to pay through a combination of cash, common company shares, and performance-based earn-out payable in cash.

Concordia chairman and CEO Mark Thompson said: "This acquisition is a key milestone and pivotal turning point in Concordia ‘s strategy, which gives us the platform to take our business to the next level.

"Concordia will benefit from a portfolio of more than 190 off-patent molecules, as well as entry to new therapeutic areas such as endocrinology, ophthalmology and urology."

"We are not only acquiring products and commercial infrastructure, but a seasoned management team who has done a fantastic job of building a solid and successful international pharma operation."

With this acquisition, Concordia will benefit from a portfolio of more than 190 off-patent molecules, as well as entry to new therapeutic areas such as endocrinology, ophthalmology and urology.

The new development will support AMCo’s growth platform through offering organic growth across the business and by improving its M&A strategy though global opportunities.

AMCo CEO John Beighton said: "We look forward to being part of the Concordia business, as the combination with AMCo is expected to create significant opportunities for further growth in the global pharmaceutical sector.

"We have a shared vision for growth that should greatly benefit employees and stakeholders of the combined business."

The board of directors of both Concordia and Cinven have approved the acquisition.

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