DLA Piper has advised Clinigen Group plc, the global pharmaceutical and services company, on the acquisition of CSM, a specialist provider of packaging, labelling, warehousing and distribution services, for an initial consideration of $150 million. The firm has also advised Clinigen on the acquisition of iQone Healthcare Holding, a Swiss based speciality pharmaceutical business, for an initial consideration of €7.5 million (in each case on a cash free/debt free basis).

To help support the financing of the CSM acquisition, Clinigen is undertaking an £80 million accelerated bookbuild placing (led by its brokers RBC and Numis) and a refinancing of its existing facility arrangements, resulting in new facilities totalling £300 million.

The acquisition of CSM is in line with Clinigen's strategy to expand its supply and distribution network, providing value added services to its customer base and the provision of access to medicines from prelaunch and unlicensed stages to licensed on a global basis. In particular, it accelerates its position in fast growing Investor Initiated Trials (IITs) segment of trials/preapproval market; further diversifies and expands global client and customer base adding specialist and niche pharma and biotechnology companies to its predominantly mid-market to large pharma, creating significant cross selling opportunities; and adds important supply and distribution infrastructure, especially in Continental Europe (Germany and Belgium).

The acquisition of iQone adds capability to Clinigen’s Unlicensed and Commercial divisions, whilst also offering the Group a platform to support and expand its activities in mainland Europe. It also provides iQone with resources and access to an extensive customer and product base to accelerate its growth.

Commenting on the transaction, Corporate partner, Charles Cook, said: "We are delighted to have advised Clinigen on this series of strategically important transactions, which, together, represent an exciting next step in line with Clinigen's objective to become the global trusted leader in access to medicines."

The DLA Piper Birmingham-based team advising on the transactions was led by partner and head of UK Corporate, Charles Cook. He was supported by corporate senior associate Rob Newman together with corporate associates Suzanne Doogan, Vicki Steele and Rebecca Pearson and finance partner Steve Bottley and finance senior associate Gemma Lawrence.