European generics firm Zentiva sold in $4.8bn private equity deal
Prague-based pharma company is acquired by GTCR from Advent.
Zentiva is changing hands in a $4.8 billion deal that will see its ownership passed between two private equity investors.
The move shuts out the advances being made by Mumbai-based Aurobindo Pharmav, which had reportedly been trying to table a $5.5 billion bid for Zentiva just last month.
Instead, the European generics company was acquired from Sanofi in 2018 by Advent, will now be sold to GTCR in a transaction that is expected to be completed in early 2026.
Steffen Saltofte, Zentiva’s CEO, said: “Advent has been an exceptional partner in Zentiva’s transformation journey. Their commitment to investing in our capabilities, pipeline, and manufacturing base has been instrumental in our growth and in ensuring we can better serve millions of patients across Europe.
“As we move forward with GTCR, we are excited to build on this momentum to ensure continued growth and expand access to high-quality, affordable medicines.”
Zentiva employs more than 5,000 people and operates four manufacturing sites. Since its acquisition by Advent, the generics company has more than doubled its revenue and EBITDA.
Sean Cunningham, Managing Director and Head of Healthcare at GTCR, said: “The company has an impressive track record of organic and inorganic expansion, a strong pipeline and a highly efficient manufacturing platform, with a critical focus on delivering high-value medicines to patients across Europe.”
Biosimilar Enbrel commercialisation
The company’s pipeline was recently boosted by a license and supply agreement with Lupin for the commercialisation of its biosimilar version of the Amgen’s TNF-inhibitor Enbrel (etanercept).
The July deal covered markets outside the US and Canada, with a focus on those in Europe, and will see Lupin handling the product’s development, manufacturing and supply.
The biosimilar is indicated for rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, psoriatic arthritis, non-radiographic axial spondyloarthritis, moderate-to-severe plaque psoriasis and Crohn’s disease.
Both partners will invest in its development, with Lupin inline to receive $10 million upfront and then total development and regulatory milestone payments of up to a further $50 million. Commercialisation profits will then be shared between Zentiva and Lupin.
