Cinven buys Mercury Pharma from HgCapital for $732 mln
LONDON Aug 17 (Reuters) - Investor HgCapital has sold British pharmaceutical company Mercury Pharma to private equity firm Cinven for 465 million pounds ($732 million).
"The realisation of Mercury Pharma marks the continued development of HgCapital's investment focus in the healthcare sector," said HgCapital's head of healthcare, Philipp Schwalber, in a statement on Friday.
"We continue to seek out businesses that enjoy niches of secular growth despite the challenges facing much of the healthcare space," he said.
HgCapital bought the 25-year-old pharmaceutical firm, which sells niche prescription off-patent products in the UK, Ireland and the Netherlands, in 2009.
It said its listed investment trust HgCapital Trust expects to receive 35.4 million pounds in cash on the sale completion and further potential proceeds of 1 million pounds over the next 30 months.
- Tweet this
- Share this
- Digg this
- India's Mars mission a step closer to success with engine test
- Apple sells more than 10 million new iPhones in first three days |
- PM Modi to get rock star reception in New York
- India withdraws pharma pricing regulator's power to cap non-essential drug prices
- Modi to observe strict fast during maiden trip to U.S.
India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article
India has no plans to increase food handouts - Food Minister Ram Vilas Paswan. Full Article