Juvisé Pharmaceuticals Secures €550M Refinancing: A Sign of Growing M&A Activity in European Pharma?
France-based specialty pharmaceutical company, Juvisé Pharmaceuticals, has successfully completed a €550 million refinancing package led by Hayfin Capital Management. The deal, comprising €400 million of existing debt and a latest €150 million capital expenditure line, signals a strong vote of confidence in the company’s growth trajectory and potential for future acquisitions.
Strategic Funding for Expansion
The new €150 million capital expenditure line is specifically earmarked for Mergers and Acquisitions (M&A), indicating Juvisé’s ambition to expand its portfolio of essential medicines. This move follows the company’s 2024 capital reopening, which saw BPI France and Pemberton grow shareholders after acquiring the rights to Ponvory® from Johnson & Johnson. The refinancing extends Juvisé’s debt maturity profile and provides financial flexibility for these initiatives.
A Resurgent European Pharma M&A Landscape
Juvisé’s proactive approach to growth through M&A mirrors a broader trend within the European pharmaceutical sector. After a period of relative consolidation, the market is witnessing renewed activity, driven by several factors. Companies are seeking to bolster their pipelines, access new technologies, and expand their geographic reach. Specialty pharma companies like Juvisé, focused on niche therapeutic areas, are particularly attractive targets.
Hayfin’s Role and Confidence in Juvisé
Hayfin Capital Management’s commitment to Juvisé, as evidenced by leading the refinancing, underscores the firm’s belief in the company’s operational discipline and track record of integrating and scaling essential medicines. Howard Rowe, Portfolio Manager and Co-Head of Healthcare Investing at Hayfin, highlighted the “already solid foundation” upon which Juvisé is building its growth strategy.
Juvisé’s Portfolio and Growth Strategy
Founded in 2008, Juvisé Pharmaceuticals has rapidly grown by acquiring established drugs across a range of therapeutic areas, including neuropsychiatry, cardiology, oncology, gastroenterology, and neurology. The company aims to become a leading European commercial partner for research-based pharmaceutical companies, offering a platform for the successful launch and commercialization of innovative medicines. This ambition is supported by its presence in nearly 80 countries worldwide.
Legal and Advisory Support
The refinancing involved key legal and financial advisors. White & Case advised Hayfin, whereas Latham & Watkins provided legal counsel to Juvisé, with Lazard acting as a special advisor. This demonstrates the complexity and scale of the transaction.
Past Refinancing Activity
This isn’t Juvisé’s first significant refinancing. In 2022, the company completed a €400 million refinancing following the acquisition of worldwide rights to Pylera from AbbVie, demonstrating a consistent ability to secure funding for strategic growth initiatives.
Frequently Asked Questions
What is Juvisé Pharmaceuticals?
Juvisé Pharmaceuticals is a France-based specialty pharmaceutical company focused on acquiring and commercializing essential medicines.
What is the purpose of the €150 million capital expenditure line?
The funds are dedicated to future Mergers and Acquisitions (M&A) opportunities, allowing Juvisé to expand its portfolio.
Who led the refinancing?
Hayfin Capital Management led the €550 million refinancing.
What therapeutic areas does Juvisé focus on?
Juvisé’s portfolio includes medicines in neuropsychiatry, cardiology, oncology, gastroenterology, and neurology.
Did you know? Juvisé Pharmaceuticals’ medicines are currently available in nearly 80 countries globally.
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