Ascendis, the healthcare conglomerate that has grown fast by acquisitions, is tilting at vibrant eastern Europe niche markets. In an announcement preceding the release of interim numbers on Wednesday, Ascendis detailed the acquisition of Sunwave Pharma and NHP Natural Health Pharma for €42.5m, with a maximum deferred payment of €23m over three years, depending on profit targets being achieved. The acquisitions collectively generated profit after tax of €3.9m for the year to December, with Ascendis indicating the deal would be earnings accretive in May. Sunwave, a complementary and alternative medicines distribution company, is Romania’s biggest player in the food supplements category. Cyprus-based NHP is a nutraceutical specialist marketing a portfolio of complementary medicines with Sunwave being its largest customer. After 2016’s acquisition of European-based pharmaceutical business Remedica and sports nutrition specialist Scitec, Ascendis could see a 50-50 split between revenues ...
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