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    REC   IT0003828271

RECORDATI

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Recordati to buy EUSA Pharma for $847 million to boost rare disease offering

12/03/2021 | 02:01am EST

MILAN (Reuters) - Italian pharmaceutical group Recordati has signed an agreement to buy UK-headquartered EUSA Pharma for an enterprise value of 750 million euros ($847 million) to boost its rare disease products portfolio, it said in a statement on Friday.

EUSA Pharma, founded in 2015 and controlled by funds managed by EW Healthcare Partners, focuses on rare and niche oncological diseases and had net sales over the last twelve months to end-June of around 130 million euros.

The acquisition, whose closing is expected in the first half of next year, will be funded via existing liquidity and bridge financing fully underwritten by JPMorgan and Mediobanca, Recordati added.

($1 = 0.8855 euros)

(Reporting by Agnieszka Flak, editing by Giulia Segreti)


© Reuters 2021
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Financials
Sales 2021 1 579 M 1 758 M 1 758 M
Net income 2021 407 M 453 M 453 M
Net Debt 2021 876 M 975 M 975 M
P/E ratio 2021 25,7x
Yield 2021 2,25%
Capitalization 10 215 M 11 392 M 11 370 M
EV / Sales 2021 7,02x
EV / Sales 2022 6,53x
Nbr of Employees 4 446
Free-Float -
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Technical analysis trends RECORDATI
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 49,51 €
Average target price 50,54 €
Spread / Average Target 2,07%
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Managers and Directors
Robert Koremans Chief Executive Officer
Luigi Felice la Corte Group Chief Financial Officer
Andrea Recordati Chairman
Raffaele Sabia Senior VP-Pharmaceutical Research & Development
Giovanni Minora Head-Group Audit & Compliance
Sector and Competitors
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ROCHE HOLDING AG-6.46%307 637
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ABBVIE INC.0.42%240 379
NOVO NORDISK A/S-12.29%219 960