API Proposes to Sigma but Consummation Could Take Time
Impetus for consolidation in the pharmaceutical distribution space has been brewing for some time, given the challenging top-line conditions and the regulatory environment. Against this backdrop, Australian Pharmaceutical Industries, or API, has seized on Sigma's loss of the Chemist Warehouse contract (and its subsequent weak stock price) as a catalyst to kick-start the consolidation.At API's current price, the merger offer of 0.31 API shares plus AUD 0.23 cash for every Sigma share equates to ...
Australian Pharmaceutical Industry is a service provider to the pharmacy industry. Co. operates two segments, Australia and New Zealand. The Australia segment is engaged in the distribution of pharmaceutical, medical, health, beauty and lifestyle products to pharmacies, the purchase and sale of various health, beauty and lifestyle products within the retail industry and provider of retail services to pharmacies. The New Zealand segment is engaged as a manufacturer and owner of rights of pharmaceutical medicines and consumer toiletries.
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