- Cancer Biology & Biomarkers
- Chromatography & Mass Spectrometry
- Contract Research, Clinical Trials and Outsourcing
- Drug Discovery
- Drug Targets
- Flow Cytometry
- Informatics & Lab Automation
- Ingredients, Excipients and Dosages
- Microbiology & RMMs
- NIR, PAT & QbD
- Raman Spectroscopy
- Screening, Assays & High-Content Analysis
- Thermal Processing
UCB to sell Kremers Urban to Lannett
3 September 2015 • Author: Victoria White
UCB will receive upfront cash proceeds of US$ 1.23 billion upon closing, which is subject to regulatory approval and other customary closing conditions. In addition, UCB is eligible to receive contingent payments for methylphenidate HCI ER in the event that the product’s AB-rating is restored, allowing UCB to participate in potential upside in the product.
UCB plans to use the proceeds from this divestiture to reduce indebtedness and increase the Company’s capacity for strategic investments, to further accelerate growth and/or to further strengthen its innovative medicines pipeline.
Acquisition offers further growth opportunities for Kremers Urban and Lannett
“Kremers Urban has been an important enabler building UCB’s core business. We thank our Kremers Urban colleagues for their excellent performance and their focus and persistency throughout this selling process,” said Detlef Thielgen, CFO of UCB. “UCB’s focus is now entirely on our core business while offering Kremers Urban further growth opportunities together with Lannett.”
“For Lannett, this is a transformational acquisition that is an exceptional strategic fit and builds upon our stellar financial performance over the last several years,” said Arthur Bedrosian, chief executive officer of Lannett. “With KU, we are adding a highly profitable business and creating a specialty pharmaceuticals company that has substantial size, scale and reach.”
The purchase price is payable to UCB in cash upon closing. This transaction announced today has been unanimously approved by both UCB’s and Lannett’s Boards of Directors and is expected to close in the fourth quarter of 2015, subject to the satisfaction of customary closing conditions.
ABB Analytical Measurement ACD/Labs ADInstruments Ltd Advanced Analytical Technologies GmbH Analytik Jena AG Astell Scientific Ltd B&W Tek Bachem AG Bibby Scientific Limited Bio-Rad Laboratories BioNavis Ltd Biopharma Group Black Swan Analysis Limited Butterworth Laboratories Ltd CAPSUGEL NV Charles Ischi AG | Kraemer Elektronik Cherwell Laboratories CI Precision Cobalt Light Systems Coulter Partners CPC Biotech srl Dassault Systèmes BIOVIA DiscoverX Edinburgh Instruments Enterprise System Partners (ESP) Eurofins BioPharma Product Testing EUROGENTEC F.P.S. Food and Pharma Systems Srl GE Analytical Instruments IDBS JEOL Europe Kaiser Optical Systems Inc. L.B. Bohle Maschinen + Verfahren GmbH Lab M Ltd. LabWare Linkam Scientific Instruments Limited Lonza MA Business Metrohm Molins Technologies Multicore Dynamics Ltd Nanosurf New England Biolabs, Inc. Ocean Optics Panasonic Biomedical Sales Europe B.V. Peak Scientific PerkinElmer Inc ReAgent Russell Finex Limited Source BioScience Takara Clontech Tornado Spectral Systems Tuttnauer Viavi Solutions, Inc Watson-Marlow Fluid Technology Group Wickham Laboratories Limited Xylem Analytics YMC Europe GmbH Yusen Logistics