18th Jun 2021 18:01
Malin Corp PLC - Ireland-headquartered investor in life sciences companies - investee company Altan Pharma Ltd has agreed to be acquired by Ethypharm.
Altan is a specialty pharmaceutical company that develops, manufactures and markets injectable medications for the hospital and other provider segments.
As Malin owns a 65% interest in Altan, the sale of the company is expected to deliver EUR68 million following the repayment of Altan's net debt and transaction related costs.
The deal is expected to be completed in the second half of 2021, and proceed from the sale will of towards making a significant return of capital to shareholders.
"The sale of Altan is another very significant milestone for Malin in our continuing strategy to deliver maximum value to shareholders. This transaction, which comes only two months after the completion of the sale of Kymab to Sanofi, further demonstrates our commitment to catalysing investment realisation opportunities as our investee companies reach optimal value inflection points," said Chief Executive Officer Darragh Lyons.
Current stock price: EUR7.10
Year-to-date change: up 73%
By Dayo Laniyan; [email protected]
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