APP Pharmaceuticals and Fresenius to go down the aisle

APP Pharmaceuticals, a provider of hospital-based injectable drugs, has agreed to be absorbed by Fresenius, a global group offering products and services for hospital, dialysis, and home medical care. The acquisition price, based on the cash purchase price of $23 per APP share and assumption of its debt, is estimated at up to $5.6 billion. If the deal is approved, APP will join Fresenius as part of its Fresenius Kabi division. For its part, Fresenius Kabi, an infusion therapy and clinical nutrition player in Europe, Asia, and South America, will become a contender in the U.S. injectable generics market.