Faes Farma buys an Italian firm for 270 million
With the transaction, which will include payments linked to commercial objectives, the company strengthens its ophthalmology area.
BarcelonaFaes Farma has announced the acquisition of 100% of the capital of the Italian company SIFI, valued at 270 million euros, to which will be added "additional payments conditioned on the achievement of certain commercial milestones."
As explained in a statement by the Vizcaya-based company, the transaction is part of the 2030 strategic plan and "marks a transformational turning point in the positioning and global growth" of the company, which has "one of the most competitive offerings in the sector in the area of ophthalmology."
Faes Farma has obtained bank financing for 270 million euros for this acquisition. The company will focus on realizing the expected commercial and operational synergies, while maintaining its "commitment to a prudent financial policy."
Along these lines, Faes Farma emphasizes that the financing structure maintains financial solidity. In the words of its CEO, Eduardo Recoder, "this acquisition represents a transformational change" for the company. With the incorporation of SIFI, Faes Farma takes "a decisive step" in its commitment to ophthalmology as a strategic area of development.
Founded more than 90 years ago, like Faes Farma, SIFI has nearly 500 professionals and "a solid track record in the development and marketing of ophthalmic products."
