Pharmaceutical Transaction

Pharmaceutical image

CBJ – Canadian pharmaceuticals company Concordia Healthcare is paying $3.5-billion U.S. in cash and shares to buy Amdipharm Mercury from European private equity firm Cinven.

Concordia is taking out a loan of more than $4.3-billion to cover the acquisition and roll over existing debt.

The transaction is huge for Concordia as it essentially doubles the size of the company.

“This acquisition is a key milestone and pivotal turning point in Concordia’s strategy, said Mark Thompson, CEO, of Concordia in a statement.

In March, Concordia paid about $1.2-billion U.S. to a acquire a suite of products from Covis Pharma.