Healthcare Industry News: Fresenius Kabi Pharmaceuticals
News Release - September 2, 2008
APP Pharmaceuticals and Fresenius Announce Clearance of APP Acquisition by U.S. Federal Trade CommissionSCHAUMBURG, Ill. & BAD HOMBURG V.D.H., Germany--(HSMN NewsFeed)--APP Pharmaceuticals, Inc. (Nasdaq:APPX ) and Fresenius SE (XETRA:FRE ) have received confirmation that the U.S. Federal Trade Commission (FTC) has completed its review of the proposed acquisition of APP Pharmaceuticals by Fresenius Kabi, a business segment of Fresenius SE. The FTC granted early termination of the waiting period under the Hart-Scott-Rodino Act without conditions. The German antitrust authorities had already approved the acquisition.
On July 7, 2008, Fresenius had announced the acquisition of APP Pharmaceuticals, an important step in the growth strategy of Fresenius Kabi. With the FTC review complete, Fresenius and APP expect the transaction to close mid September 2008, subject to certain other customary closing conditions.
About Fresenius SE
Fresenius is a health care group with international operations, providing products and services for dialysis, hospital and outpatient medical care. In 2007, group sales were approximately € 11.4 billion. On June 30, 2008 the Fresenius Group had 117,453 employees worldwide. For more information visit the Company’s website at www.fresenius.com.
About Fresenius Kabi
Fresenius Kabi is the leader in infusion therapy and clinical nutrition in Europe and in its most important countries of Latin America and Asia Pacific. Fresenius Kabi’s core product range includes infusion solutions for fluid substitution, blood volume expansion and parenteral nutrition, as well as products for enteral nutrition. Furthermore, the company provides concepts for ambulatory health care and is focused on managing and providing home therapies. With its philosophy “Caring for life” and a comprehensive product portfolio, the company aims at improving the quality of life of patients all over the world. On June 30, 2008 the company had 18,323 employees. In 2007, Fresenius Kabi achieved sales of € 2,030 million and an operating profit of € 332 million. Fresenius Kabi AG is a 100 % subsidiary of the health care group Fresenius SE.
About APP Pharmaceuticals, Inc.
APP is a fully-integrated pharmaceutical company that develops, manufactures and markets injectable pharmaceutical products with a primary focus on the oncology, anti-infective, anesthetic/analgesic and critical care markets. The Company offers one of the most comprehensive product portfolios used in hospitals, long-term care facilities, alternate care sites and clinics within North America and manufactures a comprehensive range of dosage formulations.
The statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this news release include statements regarding the result of the review of the transaction by various regulatory agencies; satisfaction of various conditions to the closing of the transaction; existing and possible future litigation relating to the transaction, our expectations, beliefs, hopes, goals, intentions, initiatives or strategies. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to, the availability and pricing of ingredients used in the manufacture of pharmaceutical products and the ability to successfully manufacture products in a time-sensitive and cost effective manner. Additional relevant information concerning risks can be found in the APP, Inc. Form10-K for the year ended December 31, 2007 and other documents the company has filed with the Securities and Exchange Commission.
In connection with the proposed merger, Fresenius Kabi Pharmaceuticals Holding, Inc. and APP have filed relevant materials with the SEC, including a registration statement that contains a joint prospectus and information statement. Investors and security holders are urged to read these documents and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they contain important information. Investors and security holders may obtain these documents free of charge at the SEC's website at www.sec.gov. Investors and security holders are urged to read the joint information statement/prospectus and the other relevant materials before making any investment decision with respect to the proposed merger.
The information contained in this news release is as of the date of this release. Neither Fresenius nor APP assume any obligation to update any forward-looking statements contained in this press release as the result of new information or future events or developments.
Source: APP Pharmaceuticals
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.