IN BRIEF: Malin Corp to gain EUR68 million from Altan sale

Malin Corp PLC - Ireland-headquartered investor in life sciences companies - investee company ...

Alliance News 18 June, 2021 | 6:01PM
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Malin Corp PLC - Ireland-headquartered investor in life sciences companies - investee company Altan Pharma Ltd has agreed to be acquired by Ethypharm.

Altan is a specialty pharmaceutical company that develops, manufactures and markets injectable medications for the hospital and other provider segments.

As Malin owns a 65% interest in Altan, the sale of the company is expected to deliver EUR68 million following the repayment of Altan's net debt and transaction related costs.

The deal is expected to be completed in the second half of 2021, and proceed from the sale will of towards making a significant return of capital to shareholders.

"The sale of Altan is another very significant milestone for Malin in our continuing strategy to deliver maximum value to shareholders. This transaction, which comes only two months after the completion of the sale of Kymab to Sanofi, further demonstrates our commitment to catalysing investment realisation opportunities as our investee companies reach optimal value inflection points," said Chief Executive Officer Darragh Lyons.

Current stock price: EUR7.10

Year-to-date change: up 73%

By Dayo Laniyan;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Malin Corporation PLC 6.90 EUR -1.43 -

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