Catania, Italien (ots/PRNewswire)
- Thanks to the presence of Faes Farma, the transaction will enable strong commercial synergies in complementary markets and the latest takeover of Laboratorios Edol.
- It enables the financing of the further development of the SIFI portfolio, especially Akantior in the USA.
- The existing infrastructure of SIFI, including the systems of ACI S. Antonio, will be expanded under the new company
Sifi, a leading international company in the field of ophthalmology, announced today that his shareholders have signed an agreement on the sale of 100 % of SIFI shares to Faes Farma, a leading European pharmaceutical company that is noted on the Spanish stock exchange.
The transaction confirms the unique business model of SIFI, which focuses on the consolidated pharmaceutical and surgical business areas, combined with the rapidly growing areas of order manufacturing and rare diseases.
Sifi will enable Faes Farma to offer one of the most comprehensive ophthalmology portfolio in the industry with a supplementary geographical presence. The integration of SIFI and Laboratorios Edol, a leading Portuguese pharmaceutical company that was recently taken over by Faes Farma, positions ophthalmology as a key area for the combined company (the “group”) on which about 20 % of Pro-forma income is no longer available, and enables further synergies in the portfolio.
Sifi makes it easier for the group to enter new growth regions in Europe, such as Italy, France, Romania and Turkey, and at the same time strengthens the presence of the group in other regions such as Iberia, Mexico and Latin America. In addition, the product integration of cross-selling opportunities should open and improve growth and margins through operational and cost-sided efficiency increases.
The group will invest in the further development of Akantior (PoliHexanide 0.08%) in existing and new regions, especially in the USA, as well as in the development of poliexanide for additional indications for rare diseases.
Akantior is approved by the European Medicines Agency (EMA) and the British Medicines & Healthcare Products Regulatory Agency (MHRA) for the treatment of Acanthamoeba Keratitis (AK) in adults and children aged 12 and over. Akantior is the world’s first and only approved therapy for AK, an extremely rare, severe and progressive corneal infection, which affects around 3,000 patients in Europe and the United States annually. The market launch in Germany will take place in October 2024, and the price-determination and reimbursement procedure are running in other European countries. It is also in the pre-register phase at the FDA (US Food and Drug Administration) with Orphan Drug status.
After promising preclinical data and the granting of the Orphan drug status in Europe and the USA, PoliHexanide will soon begin clinical development for the treatment of fungal ceratitis.
SIFI will continue to operate its two state -of -the -art systems in ACI S. Antonio, which focus on the production of ophthalmological medication and intraocular lenses and use recently concluded long -term contracts for order production that offer considerable potential for recurring income. In addition, SIFI’s systems will optimize the group’s industrial capacities and increase operational efficiency.
“Faes Farma shares similar values and a similar corporate culture and complements our organization to a large extent. Faes Farma will become the pillar of the ambitious strategy of the extended group in ophthalmology, a therapy area in which the SIFI brand stands for quality, innovation and long -term engagement. This transaction is an important milestone for our company and will accelerate the growth, accelerate and Increase long -term value for everyone involved, especially by expanding the worldwide access to the medication and devices that we offer for eye patients ” explained Fabrizio ChinesCEO from SIFI.
“We are impressed by the strength of Sifi’s business model and the skills of its management team. This transaction strengthens our position in ophthalmology, a therapy area with considerable growth potential, and accelerates our international expansion through direct access to new markets in Europe. Fulfillment for an innovative and global ophthalmology franchise and offer a wider range of solutions that are tailored to the needs of experts and patients and our common ambitions, “said Eduardo Recoder de la CuadraCEO Von Faes Farma.
The transaction evaluates SIFI with a preliminary company value that corresponds to a double-digit multiple of the EBITDA from 2024, as well as with earn-outs that are linked to certain regulatory and commercial milestones in connection with Akantior. The end of the transaction is expected for the third quarter of 2025, subject to the usual permits by the competition authorities and the authorities for foreign investments as well as the extraordinary shareholders’ meeting of FAES Farma, which is expected for July 2025.
Evercors Partners International LLP (“Evercore”) and Mediobanca – Banca di Credito Finanzio Spa (“Mediobanca”) act as exclusive financial advisors for the shareholders of SIFI (founding families and 21 Invest SGR SPA on behalf of the managed Fonds 21 Investimental III (“21 Invest”)). Hogan Lovell’s studio Legal (“Hogan Lovells”) works as a legal advisor.
JP Morgan SE (“JPM”) acts as an exclusive financial advisor and external financier from Faes Farma in connection with the transaction. Cuatrecasas Legal SLP (“Cuatrecasas”) and Chiomenti Studio Legale (“Chiomenti”) act as legal advisor and Ernst & Young Servicios Corporativos SL (“Ey”), Gide Loyette Nouel (“Gide”), Wolf Theiss Rechtsanwälte GmbH & Co KG (“Wolf Theiss”) and at Kearney as provider of Due diligence tests for Faes Farma.
About Sifi
SIFI is a leading international option of ophthalmology with its headquarters in Italy, which pursues an integrated business model from research and development to production to marketing in the pharmaceutical and biomedical sector. Sifi, founded in 1935, has set itself the task of improving the lives of people through sensible innovations in ophthalmology. The company exports to more than 60 countries worldwide and is directly represented in the most important European markets, Mexico and Joint Ventures in China and the United Arab Emirates.
You can find more information at www.sifigroup.com
About Faes Farma
FAES Farma is a company with more than 90 years of experience and a presence in more than 130 countries through marketed or licensed products. Faes combines passion, science and innovation to improve people’s health. Faes researched, produced and markets prescription medicines, health products and pet food products and strives to become a leading pharmaceutical company in terms of excellence and innovation. At Faes Farma, people are based on our values: to offer high quality solutions for health and well -being, the focus of the patient; to develop innovative products that adapt to the needs of society; To ensure integrity, transparency and commitment through responsible management and top performance.
You can find more information at www.faesfarma.com