Sanofi has concluded negotiations leading to Advent International‘s acquisition of Zentiva, Sanofi’s European generics business for €1.9 billion ($2.2 billion). The companies had entered into exclusive talks in April.
Headquartered in Prague, Zentiva provides access across Europe to a broad generics portfolio covering a variety of therapeutic areas. The company reaches more than 40 million patients in 25 European countries and focuses on three European generics market areas—pharmacy, physician, and wholesaler. Zentiva’s operates flexible manufacturing facilities in Prague and Bucharest.
Advent, a private equity firm founded in 1984, has invested in more than 335 private equity transactions in 41 countries through March of this year and had €33 billion ($39 billion) in assets under management. The firm’s investments in the pharmaceutical and health sector since 1994 included:
- Syneos Health, Inc. (U.S.) services to biopharma companies (formerly Inc. Research); 2016, buyout
- Genoa Healthcare (U.S.) specialty pharmacy operator; 2015, buyout
- Mediq (Netherlands) pharmaceuticals provider; 2013, public-to-private
- Grupo Biotoscana (Columbia) company marketing products in Latin America; 2011, buyout
- Laboratorio LKM (Argentina) specialty pharmaceutical manufacturer (acquired by Grupo Biotoscana); 2011, buyout
- Labormed (Romania) pharma manufacturer and distributor(acquired by Alvogen); 2008, buyout
- Terapia (Romania) generic drug manufacturer; 2003, public-to-private
- Aviagen (U.K.) health and biosecurity in meat/poultry supply; 2003, buyout
- Viatris (Germany) developer, manufacturer, distributor branded pharma; 2002, buyout
- Fada Pharma (Argentina) generic pharmaceutical maker for institutional market; 2001, buyout
- Tropon (Germany) toll manufacturer and supplier of drugs; 2000, buyout
- Alcala Farma (Spain) manufacturer of branded generics and OTC products; 1999, growth equity
- Trinity Pharmaceuticals (U.K.) co-developer and marketer of branded pharma; 1997, buyout
- Managed Healthcare Associates (U.S.) contract services to long-term-care pharmacies; 1997, buyout
- 3i-Implant Innovations Inc. (U.S.) maker of dental implants; 1995, growth equity
- Telik (U.S.) pharma developer (merged with MabVax); 1994, growth equity
- Esaote Biomedica (Italy) research, production, marketing of diagnostic equipment; 1994, buyout
- Transcend Therapeutics (U.S.) critical-care pharmaceutical developer; 1994, growth equity
The signing of the Share Purchase Agreement between Sanofi and Advent marks a key step toward the closing of the deal and the transfer of the Zentiva business anticipated during the fourth quarter of 2018. The transaction remains subject to the approval of regulatory authorities.