Auctus sells PharmaLex to trade for EUR 1.28bn

AmerisourceBergen said that the acquisition enhanced its solution portfolio to support pharmaceutical manufacturers across development and commercialisation. 

Owner Auctus tapped Harris Williams earlier this year, structuring the asset on EUR 70m EBITDA, as reported. Similar assets traded at up to 20x EBITDA, the report said. 

The transaction is expected to close in March 2023. 

Earlier press reports suggested that Auctus had been looking to raise capital to finance further expansion, to continue PharmaLex's 50% annual growth rate. 

Other listed trades including US-based pharma intelligence provider Iqvia and American clinical research organisation (CRO) Parexel had also been interested in the asset, as reported. 

The sponsor had built the asset since 2014, merging YES Pharma Services, a German medicine regulatory advisor, with PharmaLex as well as Spanish provider ActioMed and British Wainwright Associates. 

The company had previously been for sale via Baird in 2018, at the time having EUR 60m-70m revenue and mid-teens EBITDA, as reported.  

Auctus closed its latest flagship fund, Auctus V, at EUR 250m in October 2019. 

Company
PharmaLex is a global team of scientific, regulatory, and safety and compliance (GxP) experts that provide strategic guidance and regulatory support to biopharma companies throughout a product’s lifecycle.

The company provides tech-enabled services ranging from clinical development consulting to marketing authorization, enabling clients to efficiently bring products to global markets and diverse patient populations.

Advisors 
Auctus - Harris Williams (M&A); Emnay (legal); Noerr (legal). 
AmerisourceBergen - Evercore (M&A); Freshfields Bruckhaus Deringer (legal); Sidley Austin (legal).

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