FIH Partners advises EQT on the divestment of Fertin Pharma to Philip Morris International

Divestment of Fertin Pharma to Philip Morris International
Transaction:
Divestments
Date:
Pending
Deal Value:
DKK 5.1 billion
Process:
Private auction
Industry:
Life Sciences

FIH Partners advises EQT on the divestment of Fertin Pharma to Philip Morris International for an enterprise value of DKK 5.1bn.

Fertin is a leading specialist contract development and manufacturing organisation (CDMO) in innovative oral and intra-oral delivery technologies. Its technologies enable people all around the world to live healthier lives, whether helping consumers reducing and ultimately quitting harmful tobacco use or gaining access to more pleasurable formats of a broad range of consumer healthcare application areas. In 2020, Fertin manufactured nearly 3 billion doses of Nicotine Replacement Therapy (NRT) products.

In 2017, EQT acquired 70% of Fertin from the Bagger-Sørensen family. During EQT’s ownership, Fertin has transformed from being an NRT specialist to a leader in innovative oral and intra-oral drug delivery technologies, investing in manufacturing and development capabilities to serve its expanding customer base to some of the largest pharmaceutical and healthcare companies across the globe.

Fertin’s new owner, Philip Morris International (PMI), is leading a transformation in the tobacco industry to create a smoke-free future based on a new category of risk-reduced products. PMI plans to leverage Fertin’s unique set of technologies, expertise and products for its smoke-free ambitions. Further, Fertin can be used as a catalyst to facilitate the scale-up of PMI’s portfolio of ‘beyond nicotine’ products.

The transaction is subject to customary conditions and approvals.