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Over two periods of ownership spanning 12 years in total, Nordic Capital has transformed Swiss pharmaceuticals business Nycomed into a world-class company with a strong market position, product portfolio and R&D pipeline.
Nordic Capital initially acquired Nycomed in 1999, helping to reposition the business into a specialty pharma company with a strong platform in Europe and Russia/CIS. The first holding period ended in December 2002. In its second phase of ownership, from May 2005 to September 2011, Nordic Capital has supported Nycomed in a number of strategically important acquisitions, and transformed the business into a truly global company.
Kristoffer Melinder
Managing Partner
Nordic Capital
of revenues now in emerging markets
valuation at exit
What did the business need?
- International expansion
- Investment in R&D and marketing functions
- Improved focus on core activities
How did private equity backing create lasting value?
- Recruited new CEO, Håkan Björklund, who led the business from 1999 to 2011
- Focus on in-licensing for sourcing of new products
- Greenfield establishment and expansion in new European markets
- Acquisitions of complementary businesses Altana Pharma, Bradley and Guangdong Techpool Bio-Pharma
- Acceleration of emerging markets franchise
- Successful focus on key specialty products in mature and emerging markets
What outcomes did private equity investment achieve?
- 9.6bn euro valuation on exit in trade sale
- 50% of 2010 revenues generated in emerging markets
- 12,500 employees
- Subsidiaries in 70 markets and products sold in 100 countries
- 15 production facilities in 13 countries
- Largest capital gain achieved for private equity investors globally to date