Companies / Australia
Sigma Makes Bid For API
October 2006 | Company Finance AlertAustralian drugmaker Sigma Pharmaceuticals has made an AUD566mn (US$422.01mn) offer to purchase rival API. The move is the latest in a string of acquisitions in the Australian drug sector, as shrinking profit margins spurs industry consolidation. In September, US drug firm Hospira - formerly part of Abbott Laboratories - made an AUD2.6bn (US$1.94bn) bid for Mayne Pharma.
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