FRANKFURT, May 5 (Reuters) – German pharma team Cheplapharm stated on Wednesday it is analyzing various financing alternatives, such as a stock market list, since it reported 2020 earnings.
A Frankfurt initial public offering, which could value the business in 10-12 billion euros ($12-14.4 billion), including debt, is expected to formally kick off in September or October, individuals near the matter mentioned.
Cheplapharm declined to comment further about its IPO plans.
The firm said its earnings grew by 32 percent to 680 million euros from 2020, and earnings before interest, taxation, depreciation and amortisation arrived to 324 million.
“This underlines the expansion ambition, which Cheplapharm intends to keep later on,” the firm stated.
Cheplapharm does not have any development and research of its own, but purchases established products from big pharma groups that it subsequently generates with a lean production setup.
In January, Cheplapharm obtained epilepsy medication Rivotril from Roche, after 1.3 billion euros in investments to 40 based drugs taken from Sanofi, Takeda and Leo Pharma.
JP Morgan, Deutsche Bank and Credit Suisse are top the first public offering with the assistance of bookrunners like Barclays and Citi, individuals near the issue have said. ($1 = 0.8335 euros) (Reporting from Arno Schuetze; Testing by Maria Sheahan)
