Recordati to pay 750 million euros for EUSA Pharma

3 December 2021

Italian drugmaker Recordati (REC: MI) is to acquire EUSA Pharma, a UK-based company focused on rare and niche oncology diseases and controlled by funds managed by EW Healthcare Partners.

Recordati is acquiring EUSA for an enterprise value of 750 million euros ($847 million), to be funded via existing liquidity and bridge financing fully underwritten by JP Morgan and Mediobanca.

"We believe that the EUSA Pharma acquisition represents an excellent opportunity to further expand and reinforce our portfolio in a new and underserved therapeutic area"EUSA was founded in March 2015 and has a portfolio of four rare and niche oncology products with annual sales currently of around 130 million euros and net debt of some 26 million euros.

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