Norgine on a growth charge again with Theravia takeover deal
Norgine's CEO Janneke van der Kamp has said other portfolio-boosting deals could be on the way.
Netherlands-based pharma group Norgine has expanded its rare disease portfolio with the acquisition of France's Theravia for an undisclosed sum.
Neuilly-Sur-Seine company Theravia – formed through the merger of Addmedica and CTRS in 2023 – has five product ranges on the market and has an R&D pipeline covering fertility, allergy, and skin disorders.
Theravia made more than €50 million in revenues in 2024 and has seen its sales rise by an annual rate of around 10% in recent years. For comparison, Norgine has annual revenues of more than €550 million a year.
The takeover deal comes amid a period of product portfolio-building at Norgine and follows licensing deals giving regional commercial rights to X4 Pharma's WHIM syndrome therapy Xolremdi (mavorixafor) and Fennec Pharma's Pedmarqsi (anhydrous sodium thiosulfate injection), used to prevent hearing loss in children treated with cancer chemotherapy cisplatin.
Taking control of Theravia from its current owners – which include private equity firm Mérieux Equity Partners, its majority shareholder – will add products including Siklos (hydroxycarbamide) for adults and children with sickle cell disease (SCD), Orphacol (cholic acid) for adults and children who have a genetic disorder that affects bile production by the liver, and wound care range Liquiband.
The deal – which still has to clear the usual regulatory approvals – will give Norgine a rare disease franchise spanning six different products if it goes through.
The company already sells Agilus (dantrolene ) for malignant hyperthermia, a rapid rise in body temperature caused by uncontrolled muscle contractions, and has filed for approval of eflornithine as a treatment for rare paediatric cancer high-risk neuroblastoma.
"This acquisition is a unique opportunity for Norgine to bolster our growth trajectory, as well as our rare disease portfolio," said Norgine chief executive Janneke van der Kamp, a former head of pharma at Grünenthal, who replaced Chris Bath at the helm of the Dutch company at the start of this year.
"With our strong legacy and proven track record of successfully bringing innovative treatments to patients, we believe we are well placed to ensure the Theravia medicines reach their full potential," she added.
Van der Kamp also reiterated her plan for Norgine to continue its acquisitive spree and is looking for other acquisitions and in-licensing opportunities to drive growth.
