Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
  6. News
  7. Summary
    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.

(600196)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Shanghai Fosun Pharmaceutical : Stada lifts forecasts after telling suitors to raise bids

03/17/2017 | 06:48am EDT
Logo of the pharmaceutical company Stada Arzneimittel AG is pictured at its headquarters in Bad Vilbel

FRANKFURT (Reuters) - German drugmaker Stada (>> STADA Arzneimittel AG), at the centre of a takeover battle between two private equity consortia, has raised its medium-term forecasts, pressing for a higher valuation after telling suitors their 4.7 billion euro (4.04 billion pounds) bids were too low.

FRANKFURT (Reuters) - German drugmaker Stada (>> STADA Arzneimittel AG), at the centre of a takeover battle between two private equity consortia, has raised its medium-term forecasts, pressing for a higher valuation after telling suitors their 4.7 billion euro (4.04 billion pounds) bids were too low.

Anticipating growth in its core generics business and additional cost savings the company now expects adjusted earnings before interest tax, depreciation and amortisation (EBITDA) to come in at between 570 million euros and 590 million in 2019.

Previously the company had said it expected adjusted EBITDA to reach about 510 million euros by then.

The takeover battle for Stada pits a combination of Advent and Permira against Bain and Cinven. Both have now made takeover offers at 58 euros per share, valuing the company at 4.7 billion euros including debt, according to people familiar with the matter.

However, Stada abruptly postponed the bidding process on Thursday evening to give the rival suitors a chance to improve their offers.

It denied reports that it wanted give a potential third consortium comprising a buyout group and a strategic investor time to enter the process.

Reuters has also reported that China's Shanghai Fosun Pharmaceutical (>> Shanghai Fosun Pharmaceutical (Group)) is looking into entering the bidding tussle, potentially siding with an investor such as CVC.

Stada shares traded 0.6 percent lower at 56.5 euros by 1135 GMT and analysts warned of a risk of the bidding fizzling out.

"Stada is playing a risky game in our view... In a worst case scenario, even as it is unlikely in our view, the bidders could withdraw from the bidding process," brokerage Warburg said in a research note.

Increasing bids further without tying up with a strategic investor, who would be able to realise potential synergies, is seen as challenging for the buyout groups, analysts said.

"The indicative offers, which are said to amount to 58 euros plus dividend, are likely to already widely reflect the increased targets. Therefore, we would not expect the bids to be increased substantially," said Thomas Maul, analyst at DZ Bank.

Stada also said that it expects 2019 adjusted group sales of between 2.65 billion euros and 2.7 billion, up from a previous outlook of about 2.6 billion euros, and adjusted net income at between 250 million euros and 270 million.

($1 = 0.9284 euros)

(Reporting by Arno Schuetze and Harro ten Wolde; Editing by Keith Weir)


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD. -0.73% 50.43 End-of-day quote.-6.59%
STADA ARZNEIMITTEL 0.00%End-of-day quote.-8.87%
All news about SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
10/14SHANGHAI FOSUN PHARMACEUTICAL : Date of board meeting(h shares)
PU
10/13SHANGHAI FOSUN PHARMACEUTICAL : Helsinn and Fosun Pharma sign exclusive license and distri..
AQ
10/12SHANGHAI FOSUN PHARMACEUTICAL : Fosun Pharma Setting Up Children-Focused Medical Services ..
MT
10/11SHANGHAI FOSUN PHARMACEUTICAL : Connected transaction - formation of joint venture (h shar..
PU
10/11Fosun Health Enters Joint Venture Agreement with Forte Industrial Development
CI
10/07SHANGHAI FOSUN PHARMACEUTICAL : Monthly return of equity issuer on movements in securities..
PU
10/01SHANGHAI FOSUN PHARMACEUTICAL : Asian Private Equity Firm CBC to Buy 43% Stake in Yaneng B..
MT
09/30SHANGHAI FOSUN PHARMACEUTICAL : Discloseable transaction - disposal of equity interest in ..
PU
09/30C-Bridge Healthcare Fund V, L.P., a fund of C-Bridge Capital Investment Management, Ltd..
CI
09/22SHANGHAI FOSUN PHARMACEUTICAL : Fosun Pharma Raises Nearly $186 Million from Sale of Renmi..
MT
More news
Analyst Recommendations on SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
More recommendations
Financials
Sales 2021 37 550 M 5 836 M 5 836 M
Net income 2021 4 674 M 726 M 726 M
Net Debt 2021 17 898 M 2 782 M 2 782 M
P/E ratio 2021 27,2x
Yield 2021 1,01%
Capitalization 101 B 15 760 M 15 762 M
EV / Sales 2021 3,18x
EV / Sales 2022 2,70x
Nbr of Employees 34 375
Free-Float 58,7%
Chart SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
Duration : Period :
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 50,43 CNY
Average target price 68,40 CNY
Spread / Average Target 35,6%
EPS Revisions
Managers and Directors
Xiao Hui Guan Executive President & Chief Financial Officer
Yu Qing Chen Co-President
Ke Xin Wang Co-President
Dong Ming Li Co-President
Yi Fang Wu Chairman