Acino Acquires Cephalon’s Middle East & African Business for €80M

Acino said last week that it agreed to buy the Middle Eastern and African business of Cephalon for 60 million euros in cash and 20 million euros of new shares.

Swiss-based pharmaceutical company Acino and US-based Cephalon Inc. have announced an agreement under which Acino will acquire Cephalon’s combined Middle East and African business for a total consideration of approximately EUR 80 million.

Under the terms of the agreement, Acino will pay EUR 60 million in cash and EUR 20 million through the issuance of shares from authorized capital. Acino expects the acquisition to be immediately accretive.

The business to be acquired, which includes Cephalon and Mepha brands, is expected to generate sales of close to EUR 100 million in 2011. The well established product portfolio comprises leading brands including the analgesic Olfen (diclofenac), the antispasmotic Spasfon (phloroglucinol/trimethylphloroglu