Global Health Care Partners and DLJ Merchant Banking Partners II, L.P. to Acquire Thiemann Arzneimittel GmbH
New York, NY,
July 18th, 2000 - Global Health Care Partners (GHCP) and DLJ Merchant
Banking Partners II, L.P. and its affiliates (DLJMBP II) announced today
that they have signed an agreement to acquire Thiemann Arzneimittel GmbH
(Thiemann).
Thiemann is a German-based pharmaceutical subsidiary of Dutch multinational
Akzo Nobel which is fully integrated with the operations of N.V. Organon,
the ethical pharmaceutical business unit of Akzo Nobel. Thiemann's operations
are based in Waltrop, Germany near Dortmund and comprise of several activities,
including: (i) marketing and sales, (ii) packaging and (iii) distribution.
GHCP and DLJMBP II recently formed Thiemann S.A. to acquire the sales
and marketing business of Thiemann as a growth platform for the marketing
of pharmaceutical products. Henry Wendt, Chairman of GHCP, says, "In
the United States, there has occurred significant growth in companies
marketing niche products or products no longer of strategic value to major
pharmaceutical companies. We believe that Thiemann S.A. can be the platform
for such a business in Europe."
Thiemann's sales
and marketing business is a market leader in several niche segments within
the CNS, Heart and Circulation, Gastrointestinal, Anti-inflammation and
Cough and Cold indications and intends to actively search for new prescription
products within these indications via cooperation, licensing or acquisition.
Thiemann also intends to add new niche primary care indications to its
existing product portfolio.
The packaging and distribution assets of Thiemann will be purchased by
NextPharma Technologies S.A. (NextPharma), a DLJMBP II portfolio company
and become an integral part of NextPharma's subsidiary Pharbil Pharma.
The combination will expand Pharbil Pharma's range of activities and create
important synergies in the areas of production, packaging, order processing
and distribution.
NextPharma was recently formed by GHCP and DLJMBP II to create a platform
for the leading custom contract process development and manufacturing
outsourcing company servicing the pharmaceutical industry. Operating from
both Europe and the U.S., NextPharma intends to aggressively pursue an
outsourcing strategy that will enable it to offer a full range of services
across the pharmaceutical customer supply chain, including expertise in
process and product technology, product development, manufacturing and
distribution. In April 2000, NextPharma acquired Pharbil Pharma GmbH (Pharbil
Pharma). Pharbil Pharma is the second largest pharmaceutical contract
manufacturing enterprise in Germany and offers formulation capabilities
in a wide range of product areas, including micropellets, sachets, effervescent
tablets, penicillins, cephalosporins and logistics and formulation development
services. In June 2000, NextPharma acquired Galen Industry, S.A. (Galen)
and a 40% equity interest in Aerojet Fine Chemicals LLC (AFC). Galen owns
all of the capital stock of Galentis S.p.A. (Galentis), a manufacturer
of pharmaceutical fine chemicals. AFC is the custom chemicals business
of Aerojet, an operating unit of GenCorp.
GHCP, DLJMBP II's health care-related investment group, was formed in
1996 with the purpose of targeting investments in the health care sector.
GHCP includes Henry Wendt (former Chairman and CEO of SmithKline Beecham),
Robert Cawthorn (former Chairman and CEO of Rhône-Poulenc Rorer
Inc), Ted Roberts (former President of Merck KgaA's Pharmaceutical Division),
Maurice Wolridge (former Vice President of Manufacturing at Pfizer) and
Doug Rogers, a 25 year veteran venture capitalist/banker.
In November 1996, DLJ organized DLJMBP II, which has committed capital
of approximately $3.0 billion. DLJMBP II targets the purchase of equity
and mezzanine securities in leveraged transactions and other similar types
of transactions.
Donaldson, Lufkin & Jenrette is a leading integrated investment and
merchant bank serving institutional, corporate, government and individual
clients. DLJ's businesses include securities underwriting; sales and trading;
investment and merchant banking; financial advisory services; investment
research; venture capital; correspondent brokerage services; online, interactive
brokerage services; and asset management. Founded in 1959 and headquartered
in New York City, DLJ employs approximately 10,600 people worldwide and
maintains offices in 13 cities in the United States and 16 cities in Europe,
Latin America and Asia. The company has two classes of common stock trading
on the New York Stock Exchange. Shares trading under the ticker symbol
"DLJ" represent Donaldson, Lufkin & Jenrette, Inc. Shares
trading under the ticker symbol "DIR" track the performance
of DLJdirect, its online brokerage business. For more information on Donaldson,
Lufkin & Jenrette, refer to the company's world wide web site at www.dlj.com.
The firm's world headquarters are located at 277 Park Avenue, New York,
NY 10172; telephone number (212) 892-3000.
Media Contacts:
Leslie Thompson
212-892-3555
lthompson@dlj.com
Christine Chinnery
020 7655 7945
cchinnery@dlj.com