Nordic Capital et al. sell Nycomed spinoff Fougera for $1.5bn

The deal brings the total Nycomed exit value up to around €10.7bn. Equity for the original investment came from Nordic Capital funds V and VI.

Managing partner Kristoffer Melinder stated that Nordic Capital has supported the company with a number of operational improvements since 2011. More specifically, there has been renewed focus on growth in generic drugs sales, strengthening of production and a redeployment of the sales force to focus on key products. Moreover, it has backed a new management team, led by Brian A Markison.

Previous funding
Nordic Capital initially backed a £377m MBO of Nycomed in 1999, subsequently selling the company to DLJMB, Blackstone et al. in 2002. It reinvested in the company in 2005, then valued at €1.8bn.

Nordic Capital exited Nycomed to Japanese trade player Takeda in a €9.6bn deal in May 2011, but kept Nycomed US, which was rebranded Fougera.

Company
Fougera, founded in 1849 and previously part of Nycomed, is a dermatology-focused pharmaceuticals company. Headquartered near New York, it employs 700 staff and generated a $429m turnover in 2011.

People
Managing partner Kristoffer Melinder led the deal for Nordic Capital.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Exits
• Healthcare
• Now researching
• Nordic Capital