German pharma firm Cheplapharm considers options including IPO

Dermapharm Holding SE

05/05/2021 08:19

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  SASY.PA , Takeda
 4502.T  and Leo Pharma.
    JP Morgan  JPM.N , Deutsche Bank  DBKGn.DE  and Credit
Suisse  CSGN.S  are leading the initial public offering with the
help of bookrunners such as Barclays  BARC.L  and Citi  C.N ,
people close to the matter have said. 
($1 = 0.8335 euros)

 (Reporting by Arno Schuetze; Editing by Maria Sheahan)
 ((arno.schuetze@thomsonreuters.com; +49 30220133648;))