Jul 7, 2008
Fresenius paying $3.7B for US drugmaker APP
Fresenius SE said Monday it has agreed to buy U.S. generic drug maker APP Pharmaceuticals for $3.7 billion in cash in a deal that will give the German health care company more opportunities in the North American market for drugs administered intravenously.
Fresenius will pay $23 a share for the Schamburg, Ill.-based APP Pharmaceuticals in the deal, along with a registered and tradable contingent value right that could result in as much as $6 a share, provided APP reaches adjusted pretax profit targets from 2008 to 2010, the companies said in a statement.
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