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Fresenius buys APP to enter US market

 Fresenius buys APP to enter US market
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German medical group Fresenius is to buy the US company APP Pharmaceuticals which makes generic injectable drugs used in hospitals with most of its sales in north America. The idea is to gain access to that market.

The price is 2.4 billion euros; that’s a 29% premium on last week’s closing share price.

Fresenius’ stock slumped at one stage being down 11% reflecting shareholders’ concern over how much stock the company may have to sell to finance the purchase.

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