7/17/2014 8:49:27 AM
Hopp Acquires LTS Shares From Novartis & BWK
- LTS: market leader in transdermal patches completely acquired by dievini Hopp
ANDERNACH, Germany, July 17, 2014 /CNW/ - The supervisory board ("Aufsichtsrat") and management board ("Vorstand") of LTS have concluded the assessment of strategic options for the future development of the LTS group. LTS developed innovative, value oriented growth strategies identifying also the prerequisites for the successful strategy implementation. Meanwhile, LTS´s major shareholders evaluated possible changes in ownership.
Upon the conclusion of the assessment the three main shareholders have agreed a transaction amongst themselves.
The dievini Hopp Biotech Holding GmbH & Co KG Walldorf/Germany, the Novartis Holding AG Basel/Switzerland and BWK GmbH Stuttgart/Germany announce that dievini will acquire all shares of the two other LTS main shareholders. Novartis will divest its 43% stake in LTS Lohmann Therapie-Systeme AG (LTS), BWK will divest its 24% stake to dievini Hopp. Small LTS shareholders will also receive an equal offer from dievini Hopp. The transaction, which requires regulatory approvals and is subject to other customary conditions, is expected to close this year.
The supervisory board and management board of LTS welcome the agreement of its shareholders. dievini´s continued and strategic engagement enables LTS to realize the identified attractive growth options with its own means available. The agreement provides for the prerequisites to develop LTS sustainably and independently as the technologically leading global pharmaceutical company for transdermal technologies.
LTS supervisory board chairman Prof. Loos: "The supervisory board of LTS welcomes the strategic decision of LTS´s main shareholders as it anticipates the successful, sustainable development of LTS in the next LTS development phase."
Christof Hettich Managing Director of dievini Hopp: "As a shareholder since many years we know and appreciate LTS. We are delighted to partake also in the future in the successful work of LTS in an even closer fashion. As the global market leader for transdermal pharmaceutical solutions LTS offers significant potential for innovation to the benefit of patients and medical therapy."
LTS is the global market leader in the development and manufacturing of innovative transdermal systems LTS TTS and oral thin films LTS OTF. Founded in 1984, LTS is a German based pharmaceutical company with global presence and operations in both in Germany and the USA, employing about 1500 and a yearly turnover exceeding € 300 mio.
SOURCE LTS AG
For further information: dievini Hopp BioTech holding GmbH & Co KG, Tel. +49(0)621-4256-208; LTS AG, Tel.: +49(0)2632-990, Mail: firstname.lastname@example.org
The owners of LTS have been seeking a buyer for the company, which competes with unlisted AMW GmbH, Beiersdorf's Tesa Labtec unit, Acino, and U.S. conglomerate 3M , but could not agree a price with potential buyers.
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