EUSA Pharma
- New investment
- Location: EU and US
- Sector: Healthcare
- www.eusapharma.com
First investment
3i invested $50m in March 2007 as part of a $175m fund raising round to provide capital to acquire and develop a portfolio of pharmaceutical products.
Nature of business
A specialty pharmaceutical company focused on oncology, pain and critical care.
| Results to 31 December | 2006 (unaudited) $m |
|---|---|
| Sales | 0 |
| EBITDA | (1.2) |
| Net assets | 9.2 |
Current trading
EUSA's focus is on growing a portfolio of specialty hospital medicines. The first of these, Rapydan, is due to be launched in Sweden in the first half of 2007, followed by a phased roll out across the EU. During 2007, EUSA will have a marketing capability in the five major European markets as well as Scandinavia, Benelux, Austria, Ireland and Portugal.
Developments since 3i invested
EUSA acquired French-based OPi in March 2007 and plans are underway to develop an effective US capability facilitating access to the North American specialty pharmaceutical market. The company now employs 93 people.
| 3i Group plc’s investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | 26 | n/a |
| Directors’ valuation | ||
| Equity and loan | 26 | n/a |
| Equity interest | 22% | n/a |
| Income in the year | 0 | n/a |