Drug compounding supplier Arseus buys U.S.-based Freedom Pharma
BRUSSELS (Reuters) - Belgium-based Arseus (RCUS.BR), the world's biggest supplier of ingredients to pharmacists so they can mix up their own versions of drugs, bought U.S.-based Freedom Pharmaceuticals for an undisclosed sum, it said on Thursday.
The acquisition strengthens its global position in the market for drug compounding, where pharmacists assemble medicines themselves specifically tailored to the needs of their customers.
Arseus said in a statement that it paid 5.5 times EBITDA for Freedom Pharmaceuticals, which expects to achieve turnover of about $25 million in 2013.
(Reporting By Ben Deighton, Editing By Ethan Bilby)