South Africa's Ascendis Health buys two European firms, shares rise

May 24, 2016 7:52 AM

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JOHANNESBURG May 24 South Africa's Ascendis Health Ltd said on Tuesday it bought two European companies as part of its plan to expand globally and diversify its pharmaceutical products, sending its shares higher.

The health and care company will buy Cyprus-based pharmaceutical firm Remedica Holdings Ltd for between 260 million euros ($291 million) and 335 million euros and sports nutrition company Scitec International for 170 million euros.

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