Apax Funds, a London-based investment firm, said it reached an agreement to buy Spanish API maker Invent Pharma.
Terms of the deal, including a sale price, weren’t disclosed. The acquisition of Invent Pharma was from a consortium of investors led by Silfurberg, Framtakssjóður Íslands (Enterprise Investment Fund) and Horn II.
Apax invests in consumer, healthcare, services as well as technology and telecommunications businesses. The firm previously acquired med techs including device player Kinetic Concepts and diagnostics services company Unilabs.
The transaction, which is expected to close in the coming months, is subject to customary closing conditions.
Invent Farma, which is located in Barcelona, develops, manufactures and markets generic drugs. It owns and operates manufacturing plants in Spain and comprises three divisions: Inke, which manufacturers APIs and focuses on respiratory; Lesvi, which produces finished dosage forms across multiple therapeutic areas; and Qualigen, which markets generic drugs in Spain and has been expanding its presence in the central nervous system arena.
“We are excited to build on Invent Farma’s success, particularly on their strength in respiratory APIs and their outstanding CNS franchise,” Steven Dyson, a partner and co-head of Healthcare at Apax, said in a statement. “We will look to support the organic growth of Invent Farma as well as further consolidate the European generics market, as evidenced by our recent announcement of a transaction with Germany’s neuraxpharm.”
Last week, Apax reached a deal to acquire neuraxpharm Arzneimittel, a German pharmaceutical company, from ATAX and Neuraxpharm Holding for an undisclosed price.
- check out the release
Related Article:
BD forms $500M JV with private equity firm Apax to house ailing respiratory biz