Norgine Announces Closing of Investment from Goldman Sachs Asset Management

USA - español

USA - Deutsch

USA - Français

USA - English

News provided by

Dec 15, 2022, 02:00 ET

LONDON, Dec. 15, 2022 /PRNewswire/ -- Today, Norgine Europe B.V. ("Norgine", the "Company"), a leading European specialty pharmaceutical company, announced that the Private Equity business within Goldman Sachs Asset Management has completed its acquisition of a majority stake in the Company. The deal closure is a key milestone in Norgine's history, following over 110 years of family ownership by the Stein Family (who will continue to own a significant stake in the Company). With Goldman Sachs Asset Management as its key partner, Norgine is strongly positioned to deliver on its mission of bringing transformative medicines to market while purposefully putting patients at the heart of its strategy. The Company is focused on growth through advancing its existing portfolio of leading brands, developing and commercializing innovative pipeline products, and leveraging the Norgine platform through business development initiatives.

Norgine has focused on building its fully integrated platform across Europe, Australia and New Zealand for more than 35 years and has grown consistently over that time. Today Norgine generates more than €500 million of sales annually. Its portfolio includes the iconic MOVICOL® brand with 25+ years' heritage, a growing roster of promoted prescription products, and a portfolio of innovative pipeline products across multiple therapeutic areas.

Norgine serves as a true specialty pharma platform, with a proven track record of developing, acquiring, and in-licensing assets while leveraging its integrated operations, which include a pan-European infrastructure and strong regulatory, market access, and launch capabilities.

Christopher Bath, Chief Executive Officer of Norgine, shared: "I am pleased to see the successful completion of this transformational transaction and to commence work in earnest with the Goldman Sachs Asset Management team. I firmly believe that Norgine's differentiated capabilities, unique product offering, and strong collaboration with our majority shareholder Goldman Sachs Asset Management will allow us to realize the true potential of our fully integrated pharmaceutical platform for the benefit of patients across Europe, Australia, and New Zealand. I look forward to leveraging the global Goldman Sachs network and its significant pharma and consumer healthcare investment expertise. It is an exciting time to be a part of this great company!"

About Norgine

Norgine is a European specialty pharmaceutical company that has strived to deliver innovative medicines to patients for over a century. The Company's extensive European experience, fully integrated infrastructure, and exceptional partnership approach allow it to quickly apply creative solutions to bring patients life-changing medicines that they may not otherwise be able to access. Norgine is proud to have helped 24 million patients around the world in 2021 and generated €505 million in net product sales, representing growth of 10% over 2020.

Norgine has a direct presence in 16 European countries, as well as Australia and New Zealand, and employs over 1,500 people.

Norgine and the sail logo are trademarks of the Norgine group of companies.

About Goldman Sachs Asset Management Private Equity

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.

Norgine Media Contact

Eleni Fistikaki
[email protected]
T +44 (0) 1895 826 227

Logo - http://mma.prnewswire.com/media/597589/Norgine_Logo.jpg

SOURCE Norgine B.V.