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Cinven buys second drug business Amdipharm

  • Private equity group Cinven is buying family-owned pharmaceuticals business Amdipharm for $590 million in a bid to create a bigger producer of generic drugs.

    The company will initially operate as a stand-alone business but eventually will be merged with Mercury Pharma, which Cinven acquired from rival private equity house HgCapital in August.

    The Cinven deal values Amdipharm at about nine times its annual earnings before interest, tax, depreciation and amortisation (EBITDA, according to a person familiar with the matter.