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Norgine announces investment from Goldman Sachs Asset Management

AMSTERDAM, May 27, 2022 /PRNewswire/ — Today, Norgine Europe BV (“Norgine”, the “Company”), a leading specialty pharmaceutical company in Europe, announced that the Private Equity business within Goldman Sachs Asset Management will acquire a majority stake in the Company from the Stein Family, which will continue to hold a significant stake in the Company. The transaction is a milestone in Norgine’s history, after more than 110 years of family ownership. Goldman Sachs Asset Management is delighted to partner with the Stein family and Norgine’s leadership team to support and enhance the company’s mission of bringing transformative medicines to patients and consumers. Together, we will embark on the next phase of company growth, focused on advancing existing brands, developing and commercializing pipeline products, and leveraging the Norgine platform through business development initiatives. .

Norgine has a diversified and differentiated portfolio of approximately 40 products. Norgine’s offering includes the iconic MOVICOL brand with over 25 years of experience, a growing portfolio of prescription products promoted through launch and growth phases, and a high-quality and differentiated pipeline, providing opportunities for growth in multiple therapeutic areas. The company has a proven track record in developing, acquiring and licensing assets, leveraging its fully integrated operations, which include a pan-European infrastructure and strong regulatory, market access and launch.

Peter SteinPresident of Norginesaid, “I am delighted to announce this transformative investment from Goldman Sachs Asset Management which ensures that Norgine can accelerate its growth plans and develop and launch innovative new medicines to benefit patients. Norgine has been fulfilling this crucial mission for more than a century. With the support of Goldman Sachs Asset Management, Chris and the entire Norgine team will be able to build on this proud legacy. I am particularly pleased that in partnership with Goldman Sachs Asset Management, my family can continue their long association with the Company and I look forward to supporting Norgine in this exciting new phase of development. »

Chris BainManaging Director of Norginesaid, “I am extremely excited to work with Goldman Sachs Asset Management and the Stein family, who share management’s ambition to bring more medicines to more patients, faster. Their investment is a huge recognition of the achievements of my colleagues over many years. and signals a renewed commitment to invest in partnership and innovation for the benefit of our patients and our health systems. The Goldman Sachs Asset Management team has an excellent track record of supporting growth-oriented companies and I look forward to working with the team to realize the full potential of Norgine’s fully integrated pharmaceutical platform through Europe, Australiaand New Zealand.”

Michael BruunPartner and Head of the EMEA Private Equity activity at Goldman Sachs Asset Managementsaid, “We are delighted to partner with Peter and the Stein family, as well as the Norgine management team. We’ve been following Norgine for many years and see great potential to help propel the platform forward through organic initiatives as well as innovative licensing and mergers and acquisitions. We look forward to working together to accelerate product and pipeline development and implement our shared vision to unlock the potential of society, building on Norgine’s strong capabilities and partnership approach. »

Adam DawsonManaging Director and Head of EMEA Healthcare Private Equity at Goldman Sachs Asset Managementcontinued “Norgine’s differentiated capabilities and product offering positions the company well for growth. We are uniquely positioned to leverage Goldman Sachs’ global network, our track record of investing in areas of specialty pharma and consumer healthcare, and operational, industry accelerator and digital experts to drive value creation at Norgine.We are delighted to support Chris and the rest of the talented Norgine team in this next phase of the company’s growth journey.

Norgine has been advised by Moelis & Company, Rothschild & Co, Latham & Watkins LLP, PwC and Jamieson Corporate Finance. Goldman Sachs Asset Management was advised by Goldman Sachs International – Investment Banking Division, Jefferies International Limited, White & Case LLP and Deloitte LLP. The transaction is subject to regulatory approvals and is expected to close in 2022, upon receipt of these approvals.

About Norgine
Norgine is a European specialty pharmaceutical company that has brought life-changing medicines to patients for over a century. Our commitment to transforming people’s lives drives everything we do and our European experience, fully integrated infrastructure and exceptional partnership approach enable us to rapidly apply creative solutions to bring patients the life-changing medicines they need. otherwise might not have access. Norgine is proud to have helped 24 million patients worldwide in 2021 and generated €505 million in net product sales, a 10% growth compared to 2020.

Norgine is present directly in 16 European countries, as well as Australia and New Zealand and employs more than 1,500 people.

NORGINE and the sailing logo are registered trademarks of the Norgine group of companies.
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About Goldman Sachs Asset Management Private Equity
Combining traditional and alternative investments, Goldman Sachs Asset Management offers clients around the world a dedicated partnership and a focus on long-term performance. As a primary investment area within Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world’s leading institutions, financial advisors and individuals, leveraging our deeply connected global network and on tailored expert insights, in every region and market — monitor more than 2 trillion dollars of assets under surveillance worldwide March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, lasting results and shared success over time. Goldman Sachs Asset Management invests across the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Founded in 1986, Goldman Sachs Asset Management’s Private Equity business has invested more than $75 billion since its creation. We combine our global network of relationships, our unique knowledge of markets, industries and regions, and the global resources of Goldman Sachs to grow business and accelerate value creation in our portfolios. Follow us on LinkedIn.


SOURCE Norgine