Norgine Announces Investment from Goldman Sachs Asset Management

AMSTERDAM, May 27, 2022 /PRNewswire/ -- Today, Norgine Europe B.V. ("Norgine", the "Company"), a leading European specialty pharmaceutical company, announced that the Private Equity business within Goldman Sachs Asset Management will acquire a majority stake in the Company from the Stein Family, who will continue to own a significant stake in the Company. The transaction is a key milestone in Norgine's history, following over 110 years of family ownership. Goldman Sachs Asset Management is excited to partner with the Stein Family and Norgine's management team to support and enhance the Company's mission of bringing transformative medicines to patients and consumers. Together, we will embark on the Company's next phase of growth, focused on advancing existing brands, developing and commercialising pipeline products, and leveraging the Norgine platform through business development initiatives.

Norgine has a diversified, differentiated portfolio of approximately 40 products. Norgine's offering comprises the iconic MOVICOL brand with 25+ years' heritage, a growing portfolio of promoted prescription products across both launch and growth stages, and a high-quality and differentiated pipeline, offering growth opportunities across multiple therapeutic areas. The Company has a proven track record developing, acquiring, and in-licensing assets, levering its fully integrated operations, which include a pan-European infrastructure and strong regulatory, market access, and launch capabilities.

Peter Stein, Chairman of Norgine, said: "I am delighted to announce this transformative investment by Goldman Sachs Asset Management which ensures that Norgine can accelerate its growth plans and develop and launch further innovative medicines for the benefit of patients. Norgine has been delivering on this crucial mission for over a century. With Goldman Sachs Asset Management's support, Chris and the entire Norgine team will be able to expand upon this proud heritage. I am particularly pleased that, in partnership with Goldman Sachs Asset Management, my family will be able to continue its long association with the Company and I look forward to supporting Norgine in this exciting next phase of development."

Chris Bath, Chief Executive Officer of Norgine, said: "I am incredibly excited to be working with Goldman Sachs Asset Management and the Stein Family, who share management's ambition to bring more medicines to more patients more quickly. Their investment is a huge endorsement of the accomplishments of my colleagues over many years and signals a renewed commitment to invest in partnering and innovation for the benefit of our patients and healthcare systems. The Goldman Sachs Asset Management team has a great track record of backing growth-orientated companies and I look forward to working with the team to realise the full potential of Norgine's fully integrated pharmaceutical platform across Europe, Australia, and New Zealand."

Michael Bruun, Partner and Head of the EMEA Private Equity business within Goldman Sachs Asset Management, said: "We are thrilled to partner with Peter and the Stein Family, as well as Norgine's management team. We have followed Norgine for many years and see great potential to help propel the platform through organic initiatives as well as innovative licensing and M&A. We look forward to working together to accelerate product and pipeline development and executing on our shared vision to unlock the Company's potential, building on Norgine's strong capabilities and partnership approach."

Adam Dawson, Managing Director and Head of EMEA Healthcare Private Equity within Goldman Sachs Asset Management, continued "Norgine's differentiated capabilities and product offering position the business well for growth. We are uniquely placed to leverage the global Goldman Sachs network, our track record in specialty pharma and consumer healthcare investing, and the Goldman Sachs Value Accelerator's operating, sector, and digital experts to drive further value creation at Norgine. We are excited to back Chris and the rest of the talented team at Norgine on this next phase of the Company's growth journey."

Norgine was advised by Moelis & Company, Rothschild & Co, Latham & Watkins LLP, PwC, and Jamieson Corporate Finance. Goldman Sachs Asset Management was advised by Goldman Sachs International – Investment Banking Division, Jefferies International Limited, White & Case LLP, and Deloitte LLP. The transaction is subject to regulatory approvals and is expected to complete in 2022, following receipt of such approvals.

About Norgine
Norgine is a European specialty pharmaceutical company that has been bringing transformative medicines to patients for over a century. Our commitment to transforming people's lives drives everything we do and our European experience, fully integrated infrastructure, and exceptional partnership approach enables us to quickly apply creative solutions to bring life-changing medicines to patients that they may not otherwise be able to access. Norgine is proud to have helped 24 million patients around the world in 2021 and generated €505 million in net product sales, representing growth of 10% over 2020.

Norgine has a direct presence in 16 European countries, as well as Australia and New Zealand and employs over 1,500 people.

NORGINE and the sail logo are trademarks of the Norgine group of companies.

www.norgine.com
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About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors, and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market — overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries, and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.

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