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.