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German pharma firm Cheplapharm considers options including IPO

05/05/2021 | 03:19am EDT

FRANKFURT, May 5 (Reuters) - German pharma group Cheplapharm said on Wednesday that it is examining various financing options, including a stock exchange listing, as it reported 2020 earnings.

A Frankfurt initial public offering, which could value the company at 10-12 billion euros ($12-14.4 billion), including debt, is expected to officially kick off in September or October, people close to the matter said.

Cheplapharm declined to comment further on its IPO plans.

The company said its revenue grew by 32% to 680 million euros in 2020, and earnings before interest, tax, depreciation and amortisation came to 324 million.

"This underlines the growth ambition, which Cheplapharm aims to maintain in the future," the company said.

Cheplapharm has no research and development of its own, but buys established products from large pharma groups which it then produces with a lean manufacturing set-up.

In January, Cheplapharm acquired epilepsy drug Rivotril from Roche, following 1.3 billion euros in investments into 40 established medicines taken over from Sanofi, Takeda and Leo Pharma.

JP Morgan, Deutsche Bank and Credit Suisse are leading the initial public offering with the help of bookrunners such as Barclays and Citi, people close to the matter have said. ($1 = 0.8335 euros) (Reporting by Arno Schuetze; Editing by Maria Sheahan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.70% 8340 Delayed Quote.13.87%
BARCLAYS PLC 0.75% 180.4 Delayed Quote.22.99%
CREDIT SUISSE GROUP AG 0.08% 9.602 Delayed Quote.-15.77%
DERMAPHARM HOLDING SE 0.28% 72.85 Delayed Quote.27.90%
DEUTSCHE BANK AG -1.70% 11.694 Delayed Quote.30.67%
NOVARTIS AG -0.29% 83.32 Delayed Quote.-0.39%
RECORDATI 0.51% 47.61 Delayed Quote.5.03%
ROCHE HOLDING AG 0.37% 342 Delayed Quote.10.68%
SANOFI 0.78% 88.9 Real-time Quote.12.96%
TAKEDA PHARMACEUTICAL COMPANY LIMITED 0.32% 3779 End-of-day quote.0.64%
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