Press release

Galenica to acquire Relypsa to strengthen its Business unit Vifor Pharma

Thursday, 21 July 2016, ↓ directly to download

Galenica and Relypsa announce agreement for Galenica to acquire Relypsa.
Acquisition strengthens Galenica’s Business unit, Vifor Pharma – an important step towards becoming an independent specialty pharma company.

  • ­Galenica will commence a tender offer to acquire all issued and outstanding Relypsa common stock for a cash consideration of USD 32 per share
  • Implied fully-diluted equity value of the offer amounts to approximately USD 1.53 billion
  • Acquisition affirms commitment of Galenica Board of Directors to separate the Galenica Group into two independent listed companies, partly financed by equity proceeds to be raised in conjunction with the envisaged division of the Galenica Group in 2017
  • Transaction brings Vifor Pharma a dedicated US commercial organisation and global rights to Veltassa®, a potassium binder for the treatment of hyperkalaemia
  • The Boards of Directors of both Relypsa and Galenica have approved the terms of the merger agreement, and the Board of Directors of Relypsa has resolved to recommend that shareholders accept the offer

Galenica Group today announced that it has entered into a definitive agreement to acquire the US company Relypsa, Inc., (NASDAQ: RLYP), further strengthening its Business unit Vifor Pharma by gaining full global rights to the potassium binder Veltassa® (patiromer) for oral suspension and enhancing its growing position as a global specialty pharmaceutical company. Under the terms of the merger agreement, Galenica will pay USD 32 per share in cash, or a total of approximately USD 1.53 billion. Through this acquisition, Vifor Pharma will gain a fully-integrated commercial organisation in the US and significantly strengthen its presence in the US cardio-renal market, a key area of focus.

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Galenica is a diversified Group active throughout the healthcare market which, among other activities, develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical and database services and sets up networks. With its two Business units Vifor Pharma and Galenica Santé, the Galenica Group enjoys a leading position in all its core business activities. A large part of the Group’s income is generated by international operations. Galenica is listed on the Swiss Stock Exchange (SIX Swiss Exchange, GALN, security number 1,553,646).

Contact

Christina Hertig

Christina Hertig

Head of Corporate Communications


Galenica Ltd.

Corp. Communications
Untermattweg 8
CH-3027 Bern

Phone:
+41 58 852 85 17
Fax:
+41 58 852 85 58

Julien Vignot

Julien Vignot

Head Investor Relations


Galenica Ltd.

Investor Relations
Untermattweg 8
CH-3027 Bern

Phone:
+41 58 852 81 11
Fax:
+41 58 852 81 12

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