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Cephalon to acquire Swiss Pharma co, Mepha

Cephalon has announced it has entered into an agreement to acquire privately held Swiss pharmaceutical company, Mepha and its subsidiaries

Cephalon has announced it has entered into an agreement to acquire privately held Swiss pharmaceutical company, Mepha and its subsidiaries.

Mepha manufactures and markets more than 120 generic and branded products in 50 countries and has specific expertise in innovative dosage formulations. The company experienced sales of around CHF 400m in 2009.

Under the terms of the agreement, Cephalon will acquire Mepha for CHF 622.5m (around $590m). The deal is expected to close in 10 to 12 weeks.

"The addition of Mepha will transform our international business overnight, expanding our ability to serve global markets and reach patients in new territories for the first time," said Dr Frank Baldino, Jr, chairman and CEO of Cephalon. "With this deal, we now serve all three types of pharmaceutical markets, proprietary branded, generic and branded generic. We believe this balance will increase the growth and stability of our business," added Baldino.

Promotions at Cephalon
A few days before Cephalon announced its acquisition of Mepha, the biopharmaceutical company released details of three changes to its executive leadership:

Kevin Buchi, who joined Cephalon in 1991, has been promoted to the new role of chief operating officer. He will have responsibility for worldwide pharmaceutical operations, worldwide technical operations, investor relations and business development.

Wilco Groenhuysen has been promoted to executive vice president & CFO with responsibility for worldwide finance, commercial operations and risk management. He will report directly to chairman and CEO, Dr Frank Baldino, Jr.

Alain Aragues has been promoted to EVP & president of Cephalon Europe. He joined the company in 2002 to lead the company's expansion in France following its 2001 acquisition of Group Lafon.

1st February 2010

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