Fresenius SE has agreed to acquire APP Pharmaceuticals, a provider of hospital-based injectable pharmaceutical products for $3.7 billion. The agreement also includes a contingent value right (“CVR”) that could deliver as much as $970 million more by 2011, depending on APP’s success. In addition, Fresenius will assume all of APP’s outstanding debt, a net of $940 million; the total value of the acquisition could reach $5.6 billion. APP will join Fresenius as part of its ...