Medios: Surges on Cranach Pharma acquisition

Medios AG

27/11/2020 07:57

** Shares in Medios  ILM1k.DE  jump 17.2% in early Frankfurt
trade and are heading for their best day ever, after
German-based company said on Thursday it acquired Cranach Pharma
 urn:newsml:reuters.com:*:nASN000KLV
    ** Medios now expects an increase in FY 2021 group sales to
over EUR 1 bln ($1.19 bln) vs previously announced range of
between EUR 610-630 mln  urn:newsml:reuters.com:*:nASN000ADG
    ** "First view, the acquisition looks accretive and broadens
Medios growth base significantly," Jefferies says 
    ** The company said the acquisition of Cranach is intended
to enable Medios to position itself more strongly as a
full-service provider in the specialty pharma sector
    ** The purchase price for Cranach amounts to about EUR 120.8
million based on a share price of about EUR 28.90 per Medios
share, it said
    ** The stock is seen at the top of the German small-cap
index  .SDAXI  
    
     ($1 = 0.8383 euros)

 ((elizaveta.gladun@thomsonreuters.com))