ICG and Mérieux Partner to Acquire DOC Generici, Launching Global Generic Drug Manufacturing and Distribution Network

VCBeat (WeChat Official Account: vcbeat) has recently learned that Intermediate Capital Group Europe (hereinafter referred to as “ICG”) announced its collaboration with Mérieux Equity Partners (hereinafter referred to as “Mérieux”) to acquire DOC Generici (hereinafter referred to as “DOC”), one of Italy’s largest generic pharmaceutical companies, from CVC Capital Partners (hereinafter referred to as “CVC”). Following the acquisition, ICG and Mérieux will join forces with DOC to establish a global production and sales network for generic drugs. The specific transaction amount was not disclosed.

DOC was established in 1996 and is headquartered in Milan, Italy. The company was jointly founded by three renowned pharmaceutical groups: Chiesi Farmaceutici, Zambon, and Apote. DOC primarily manufactures generic drugs for the treatment of infections, tumors, and cardiovascular diseases, and was among the earliest entrants into the generics market. On July 1, 2013, DOC was acquired by the UK-based fund Charterhouse Capital Partners LLP. In 2016, CVC acquired DOC from Charterhouse Capital Partners LLP and allowed DOC to maintain its independent operations.

“ICG’s CEO and Chief Investment Officer, Benoît Durteste, stated: ‘This acquisition represents a significant transaction for ICG and has the potential to deliver greater investment returns to our fund investors.’”

Benoît Chastaing, Senior Partner at Mérieux, stated, “We are delighted to invest in DOC, one of the leaders in the Italian generic drug market. This investment aligns with our strategy by providing patients with access to high-value, affordable medicines. This transaction also marks our first major investment in Italy. Moving forward, we will collaborate with DOC and ICG to build a more robust network for the production and distribution of generic drugs.”

Giorgio De Palma, Senior Managing Director at CVC, stated: “DOC Generici has an excellent management team, strong growth potential, and ample cash flow.”

DOC CEO Gualtiero Pasquarelli stated, “We would like to thank CVC for its support; this acquisition helps advance DOC’s growth strategy. We look forward to collaborating with ICG and Mérieux in the next phase of development.”

ICG was founded in 1989 by six entrepreneurs, with its headquarters in London, UK, and received support from nine financial institutions at its inception. As of December 31, 2018, ICG’s assets under management amounted to €35.2 billion.

CVC, established in 1981, is a private equity firm. The company operates 24 offices worldwide and manages $75 billion in assets.

Mérieux, founded in 2009 and headquartered in Lyon, France, is an investment company focused on the healthcare and nutrition sectors.

Reference link:

https://www.cvc.com/offices

https://www.icgam.com/about-icg/history

https://www.docgenerici.it/la-nostra-storia.php

https://www.merieux-partners.com/news.html

(Compiled by Liu Na)