Apax: Latest generics takeover Invent Farma will include API division Inke

By Gareth Macdonald contact

- Last updated on GMT

Invent Farma Barceolna, Spain (credi Pako Valera Photo - Jun 2016)
Invent Farma Barceolna, Spain (credi Pako Valera Photo - Jun 2016)

Related tags: Central nervous system, Pharmacology, Generic drug

Private equity fund Apax Partners will take control of Spanish API manufacturer Inke when it completes the acquisition of Invent Farma later this year.

The deal will see Apax buy Inke along with Invent’s other subsidiaries – finished dosage form maker Lesvi and CNS diseases-focused generic drug firm Qualigen – from a consortium of Iceland-based investors.

Inke’s manufacturing operations are in Castellbisbal, Spain which is 20 Kms from Barcelona. The facility employs around 30 people.

According to Inke's website, the active pharmaceutical ingredients (APIs) it makes are developed by Invent at its neighbouring laboratories.

US inspection

In May, Invent announced that Inke had passed an inspection by the US Food and Drug Administration (FDA) with no form 483s being issued, which was the fifth time the division has been visited by the US regulator since 2002.

Inke sells 13 different APIs in the US according to Invent.

A spokeswoman for the firm told us "We have a broad customer base worldwide. We supply API both for internal use and to third party customers​." 

She added that: "Within our expertise areas we are well positioned in terms of cost competitiveness​."

Second CNS investment in a month​ 

In a previous release the Invent group said it generated revenue of €100m last year with 40% of its sales coming from the rest of the European Union, Japan and the US.

Apax’s decision to buy Invent was prompted by the fund’s interest in the European generics space according to co-head of healthcare Steven Dyson.

This fits with the funds takeover of Germany-based generic drug manufacturer Neuraxpharm Arzneimittel this month.

Both deals also share a therapeutic focus as – like Qualigen – Neuraxpharm specializes in the production of drugs for the treatment of central nervous system disorders.

A spokesperson for Apax Partners declined to comment when asked for more information.

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