ALS Limited (ASX: ALQ) has announced the acquisition of the remaining 51% stake in Nuvisan Pharma Holding GmbH, achieving full ownership at no additional cost. Nuvisan, a European contract research organization, comprises Nuvisan GmbH, focusing on pre-clinical and clinical services, and Innovation Campus Berlin (ICB), dedicated to drug discovery services. In 2023, Nuvisan reported revenues of approximately A$245 million.
The acquisition, effective from 31 March 2024 for financial reporting, aims to bolster ALS's earnings growth and shareholder value, positioning the company strategically in the pharmaceutical sector. This move is anticipated to provide ALS a significant footprint in Western Europe and access to the global pharmaceutical market. ALS plans to implement a transformation program aimed at operational efficiency and cost reduction, projecting annual savings of around €25 million post a restructuring cost of approximately €20 million. The initiative is set to commence in mid-2024, with completion expected by 2026.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
