(MENAFNEditorial) Kampong Spoeu, May 23, 2018 ( Issuewire.com ) -Denik Pharm Co Ltd, a global Leader in rDNA research active in health, nutrition and materials, informs its stakeholders of the proposed acquisition of Desma Pharmacaeutical AG Peptides and SARMs business. Through the Merger Denik Pharm Co Ltd will now own 100% shares in Desma Pharmaceutical AG. The intended sale is expected to be completed in the third quarter of 2017, subject to customary regulatory approvals.
It is estimated that Desma Pharmcaeutical AG will receive about €30 million in cash following the closing of the transaction with Migsun Holdings.
Migsun Holdings will assume the drawing rights and supply contracts of Desma Pharmcaeutical AG, with Desma continuing to supply Peptides and SARMS in Europe and North America until January 2018, effectively maintaining Denik pharm co Ltd backward integration.
After completion of the intended sale, Denik pharm Co Ltd and its Partners will own 100% of the shares of the Desma Pharmcaeutical AG, which jointly generated almost €70 million in revenues with an EBITDA margin of about 12% in 2016.
Denik- Better Living through Research and Innovation.
Denik Pharm is a global science-based company active in rDNA and Healthcare Research. By connecting its unique Expertise in life sciences and rDNA Research Denik is driving better health, environmental welfare and social progress to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as peptides and SARMS. Denik pharm and its associated companies deliver annual net sales of about €70 million with approximately 200 employees.
More information can be found at www.denikpharm.com.
Forward Looking Statement
This press release may contain forward-looking statements with respect to Denik Pharm's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of Denik pharm and information currently available to the company. Denik pharm cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. Denik pharm has no obligation to update the statements contained in this press release, unless required by law.
For more information:
Denik Pharm Media Relations
Vivian de Jong
e-mail
Media Contact
Source : Desma Pharmaceutical AG
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