Halcygen acquires Mayne Pharma unit for $15m

Halcygen acquires Mayne Pharma unit for $15m

Halcygen Pharmaceuticals (ASX:HGN) has arranged to acquire Mayne Pharma International from Hospira Australia for $15 million.

As part of the deal, Halcygen has agreed to share a portion of the unit’s earnings with Hospira, so long as certain sales targets are met, the company said.

MPI is expected to report revenues of $63.2 million and an EBITDA of $31.2 million for calendar year 2009.

Halcygen today offered its existing shareholders the opportunity to participate in a share purchase plan at a cost of 20 cents per share.

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Tags pharmaceuticalsHalcygenMergers and acquisitions

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