Faulding hit by failure of takeover talks

Published: 30-Jun-2001


F.H. Faulding shares slumped after the company abandoned talks with an unidentified company, widely believed to be US-based drug company Alpharma, although Mylan Laboratories and IVAX are also believed to be interested in the Adelaide-based drug maker. Later the company issued a statement that talks had ended because aspects of the proposal under consideration were not able to be fulfilled to Faulding's satisfaction. Local analysts believe Mayne Nickless is interested in Faulding's distribution business.

Faulding is a supplier of generic drugs in some 70 countries, also sells a range of branded pharmaceutical products, and has a healthcare distribution business in Australia. Faulding was rumoured to be considering a break-up of its operations, with experts tipping a split between its mature healthcare distribution business and its lucrative and expanding pharmaceuticals business.

Faulding has won approval from the US Federal Drug Administration to make six generic drugs, including last month's approval to make and market an antiulcer drug.

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