ARTICLE | Company News

Paladin, Pharmaplan deal

March 22, 2010 7:00 AM UTC

Paladin acquired 34.99% of drug distributor Pharmaplan for C$15.9 million (US$15.6 million) in cash. Paladin also provided Pharmaplan a non-interest bearing loan of C$2.9 million (US$2.8 million). Paladin has committed to increase annually its stake by 5% over the next three years to 49.99% and has an option to purchase the remaining 50.01% over a certain period of time after the third 5% tranche. Pharmaplan imports and distributes medicines in South Africa and the broader sub-Saharan Africa region. ...