BGF achieve successful exit: Abbey Pharma | Intrapharm
BGF portfolio company Abbey Pharma – which trades as Intrapharm – has been acquired by German pharmaceutical company RIEMSER Pharma GmbH following a period of sustained growth.
BGF invested £2m in Intrapharm in 2014. Following today’s deal, BGF will fully exit its minority equity stake in the business, with all shareholders realising a strong return.
BGF’s funding supported Intrapharm as a buy & build platform, with the acquisition of Peckforton Pharmaceuticals and the addition of the Alvedon drug to Intrapharm’s portfolio. During this time Intrapharm also expanded into the Nordic and Irish markets. Prior to BGF’s investment, Intrapharm had revenues of £4m p.a. The company expects to achieve sales of £12m for this financial year.
Intrapharm’s CEO Kevin James and COO Shafiq Choudhary, who will both remain with the enlarged Group, will work with RIEMSER to bring its product portfolio to the UK, driving sales through Intrapharm’s platform.