Global private equity firm Partners Group Holding AG has confirmed the acquisition of generic drugmaker Pharmathen SA from BC Partners in a deal worth approximately 1.6 billion euros ($1.9 billion). The Swiss-based Partners Group managed to edge out other potential buyers by sealing the deal before the planned auction for Pharmathen was set to get underway.
This is the latest in a series of sales deals involving healthcare companies, bringing the total amount spent on such deals to over $60 billion, more than a 286% rise from the previous year.
Previously acquired from its founding family in 2015, Pharmathen SA was founded in Athens, Greece in 1969. This company focuses on the production of generic drugs, available in tablets, drops, and injection forms. During the last year, Pharmathen has introduced over 30 products to the lucrative U.S. market.
In June, the company announced a fund worth one billion aimed at extending its investment in Springer Nature. This is in addition to its latest decision; the purchase of a 75% stake in Italian internet provider Eolo for a price of 1.2 billion including debt.
