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Article: Bio-Technology General To Buy Rosemont For $99M In Cash.(Company overview)
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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Senior Staff Writer
Bio-Technology General Corp. signed a definitive agreement to acquire Rosemont Pharmaceuticals Ltd., a subsidiary of Akzo Nobel, for about [pounds sterling]64 million, or US$99 million.
Rosemont was founded in 1967 and bought by Akzo Nobel in 1989. Sim Fass, CEO and chairman of Bio-Technology General, called the new acquisition a "highly profitable specialty pharmaceutical company." It develops, manufactures and markets prescription drugs in oral liquid form, mainly in the UK.
"The acquisition of Rosemont will immediately generate an incremental revenue stream in 2002 and will be accretive to our earnings in 2003," Fass said ...