Recordati, a Milan, Italy-based pharmaceutical group, has agreed to acquire EUSA Pharma (UK), a Hemel Hempstead, UK-based specialty pharmaceutical company focused on rare and niche oncology diseases, for an enterprise value of EUR 750 million ($850 million).

EUSA Pharma has a portfolio of four rare and niche oncology products with approximately EUR 130 million ($147 million) net sales and net debt of around EUR 26 million ($29 million) as of June 30, 2021. The company has commercial operations in Europe, the Middle East, Africa (EMEA), and US, alongside a presence in other international markets. The company employs more than 200 people.

EUSA Pharma’s products include: (1) Qarziba (dinutuximab beta), an anti-GD2 monoclonal antibody indicated for high-risk neuroblastoma; (2) Sylvant (siltuximab), an anti-IL-6 monoclonal antibody, approved for idiopathic multicentric Castleman disease, a rare disease that affects the lymph nodes and related tissues; (3) Fotivda (tivozanib), an oral highly selective small-molecule tyrosine kinase inhibitor of vascular endothelial growth factor receptors 1,2 and 3, approved for first-line treatment of advanced renal cell carcinoma; and (4) Caphosol (calcium phosphate) for treating oral mucositis due to chemo and radio therapy.

EUSA’s product portfolio is expected to reach total annual peak sales of around EUR 250 million ($283 million), including a potential Qarziba approval in the US.  

The closing of the transaction is subject to regulatory clearances and is expected to take place in the first half of 2022.

Source: Recordati