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Nordic Capital acquires specialty pharmaceutical company Advanz Pharma in deal worth ~$846 million

Advanz Pharma

LONDON, June 01, 2021 /CNW/ - ADVANZ PHARMA Corp. Limited ("ADVANZ PHARMA" or "the Company"), a specialty pharmaceutical company with a strategic focus on complex medicines in Europe, today announced the completion of its acquisition by a subsidiary of Nordic Fund X Epsilon, Cidron Aida Bidco Limited ("Bidco").

Graeme Duncan, Chief Executive Officer of ADVANZ PHARMA, said: "This deal is fantastic news for ADVANZ PHARMA and our goal of becoming the go-to partner for complex medicines in Europe. Nordic Capital will be pivotal in helping the business through both its deep sector expertise and access to capital that will enable considerable investment in our organic and inorganic pipeline. This partnership will be essential in allowing us to further broaden choice for both prescribers and patients throughout the world and ensure access to the essential medicines we supply.

Duncan continues: “This deal could not have been possible without our employees whose hard work has been instrumental in collectively contributing towards building ADVANZ PHARMA into the strong and diverse company it is today.”

Raj Shah, Partner and Head of Healthcare, Nordic Capital Advisors, said: “ADVANZ PHARMA’s vision and regional focus fully aligns with Nordic Capital’s expertise and deep knowledge of European market sectors. We are delighted to be able to support ADVANZ PHARMA at this exciting juncture in their journey. Nordic Capital will help fuel the company’s strategic growth and allow it to invest in future pipeline and M&A activities so that even more patients can access critical medicines now and in the future.”

The acquisition has been effected by means of a court sanctioned scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991 (as amended), which was contained in a document published on 25 February 2021 (the “Scheme Document”), pursuant to which Bidco acquired the entire limited voting share capital of ADVANZ PHARMA (the “Acquisition”). Capitalised terms not defined in this announcement shall have the meaning given to them in the Scheme Document.

ADVANZ PHARMA is pleased to announce that the Scheme has now become Effective.

The Acquisition values the entire issued and to-be-issued limited voting share capital of ADVANZ PHARMA at approximately US$846 million. Under the terms of the Acquisition, each ADVANZ PHARMA Shareholder will receive US$17.26 in cash in respect of each ADVANZ PHARMA Share held at the Scheme Record Time, with the exception of Bybrook, being the only former shareholder of ADVANZ PHARMA who elected for the Alternative Offer and whose ADVANZ PHARMA Shares have been exchanged for Topco B Shares in accordance with the Alternative Offer.

For further details about the completion of the Acquisition, including closing requirements and additional considerations, please visit the Investor Relations section of the Company's website at:
phone +44 (0) 208 588 9100
email Capital House, 1st Floor, 85 King William Street, London EC4N 7BL
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