Poland's Enterprise Investors has agreed to a deal involving the sale of its entire stake in PharmaSwiss to Canadian pharmaceutical company Valeant Pharmaceuticals International. Enterprise Investors will get € 52.5 million for its share; the remainder of the PharmaSwiss shareholders will also sell, giving Valeant 100% ownership at a total cost estimated to be near € 350 million. Enterprise Investors originally invested in PharmaSwiss with a capital increase in 2008 via its Polish Enterprise Fund VI.
Baltic pharmaceutical company JSC Grindeks (Grindex) has announced the receipt of a notification from Stockholm-based East Capital indicating that the private equity investor has increased its shares in the company. Prior to the transaction East Capital owned slightly more than 955,000 shares. After the transaction that number was raised to more than 975,000 shares. The increase gives East Capital a 10.18% voting share of Grindex.
The EBRD has added to its 200+ Ukrainian projects with a USD 11.5 million equity investment in a Fra-M. Fra-M is one of the largest wholesale distributors of pharmaceutical products in the Ukraine. The company plans to use the new financing to stabilize working capital, invest in its logistics operations, and expand its wholesale operations.
Turkey's Biofarma, a leading generic drug maker, appears to be on the sale block as the company's three co-owners have distributed short sale documents and brought on JPMorgan to advise on the transaction. Citigroup Venture Capital International (CVCI) joins co-investors Partners in Life Sciences (PiLS) and Global Finance in hopes to get as much as USD 500 million out of the deal. CVCI and PiLS originally acquired Biofarma in 2007 for roughly USD 200 million.