Australian Pharmaceutical Industries closes 2018 with pharmacy deal

Australian Pharmaceutical Industries closes 2018 with pharmacy deal

Australian Pharmaceutical Industries (ASX: API) closed out 2018 by announcing it acquired Sigma Healthcare Ltd (ASX: SIG), a wholesale and distribution service for pharmacies. With $2.96 million of reported revenue in FY2018, Sigma also owns several pharmacy retail brands in Australia such as Amcal Max, DDS, Amcal, and Guardian. The deal was valued at $524.9 million (AUD $727 million), which is a 46.5% premium to Sigma’s one-month volume weighted average share price of $0.34 at the close of trading on December 13. Australian Pharmaceutical Industries (API) offers wholesale product delivery, retail services, marketing programs, and business advisory services. Not only will API gain... Read More »