Advanz Pharma agrees to be acquired by Nordic Capital

UK-headquartered specialty drugmaker Advanz Pharma today announced that its board of directors has reached an agreement on the terms of a cash offer, to be made by a subsidiary (“Bidco”) of Nordic Capital, under which Nordic Capital will acquire the entire issued and to-be-issued limited voting share capital of Advanz, in a deal worth about $846 million.

“This offer highlights the value that our employees around the world have collectively contributed towards building Advanz Pharma into the strong and diverse company it is today,” said Graeme Duncan, chief executive of Advanz Pharma, adding: “In addition, this acquisition will significantly help the business through both the capital support, and Nordic Capital’s deep sector expertise. I am very much looking forward to working with Nordic Capital to deliver our growth targets.”

Under the terms of the proposed acquisition, each Advanz shareholder will be entitled to receive $17.26 in cash for each Advanz they own. The acquisition, which is expected to close in the second quarter of 2021, values the entire issued and to-be-issued limited voting share capital of Advanz at around $846 million.