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Ascendis to buy 49% stake in Spain’s Farmalider

As part of its strategic plan to earn revenue outside of Africa.
Dr Karsten Wellner, Ascendis Health CEO

Ascendis Health will pay R210 million ($16.58 million) for 49% of Spain’s Farmalider, the South African pharmaceutical company said on Monday.

Ascendis aims to increase the revenue it earns outside Africa’s most advanced economy to 30% in the medium term from 9% reported in its results for the six months to December 31, it said in a statement.

“Farmalider serves as a strategic platform for Ascendis to further expand into Europe,” the company said.

The South African group will have an option to up its stake in Farmalider to 80% by the end of 2018 and to buy the rest of the Spanish company’s shares by the end of 2020.

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