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Deal allows CDMO to quickly expand its drug delivery technologies in the US
Partners Group, a private markets firm, has agreed to acquire Pharmathen, a European pharma company, from international investment firm BC Partners for $1.89 billion.
Pharmathen is a contract development and manufacturing organization (CDMO) that specializes in advanced drug delivery technologies for complex generic pharma products. With R&D capabilities, the company develops "sustained release" technologies that work to improve patient compliance via long-acting injectables, slow-releasing oral medicines and ophthalmics.
The CDMO’s B2B model has a blue-chip customer base of more than 215 generic pharmaceutical companies, which it serves from two US/EU-approved manufacturing facilities in Greece.
Partners Group will work hand-in-hand with the Pharmathen management team, led by CEO Dimitris Kadis, on plans to scale the business in Europe and globally. Specifically, the firm will help the company in accelerating its expansion in the US, by building out its on-the-ground presence. Further, Partners Group will reach into its healthcare, pharmaceuticals and manufacturing rolodex to support the development of technology platforms that work toward improving patient compliance.