Advanz Pharma Agrees Sale In Largest European Deal Since COVID-19 Pandemic
Jefferies: ‘Deal Signals A Reduction Of Brexit Risk And A Recovery In The Debt Markets’
Three years after rebranding from Concordia, Advanz Pharma is to be swallowed up by European-focused private equity Nordic Capital.
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Stada’s head of Europe, Steffen Wagner, is set to become the new CEO of Advanz early next year, while current CEO Graeme Duncan will step down and take a new role as special advisor to the board. Advanz is also appointing a new chief financial officer, with Merck Healthcare’s Andreas Stickler set to succeed Adeel Ahmad in January.
With plans to drive continuous innovation in drug administration technology and further implement state-of-the-art production capabilities, Swiss-based private equity Partners Group has announced a deal to acquire long-acting injectables specialist Pharmathen.
Nordic Capital has completed its takeover of Advanz Pharma, three years after the company’s transformation from its former identity of Concordia. The company is planning “considerable investment” following the deal.