Fresenius takes majority stake in Mabxience

SPAIN Life Sciences / Pharma & Biotech / CDMO REV €250–500M

Context

Fresenius agreed to acquire a 55% majority stake in mAbxience from its founding shareholders, with a contractual put/call option mechanism covering the remaining 45% of the share capital. The acquisition delivers on Fresenius Kabi's core "Broaden Biopharma" growth vector under its Vision 2026 strategy, addressing a critical gap in the division's value chain by adding flexible, single-use biologic drug substance manufacturing capacity. The transaction is expected to generate material operating and cost synergies, primarily driven by leveraging mAbxience's manufacturing capabilities for Fresenius Kabi's existing biosimilars portfolio, and to create an end-to-end integrated biopharmaceutical platform serving both internal programmes and third-party CDMO clients.

By taking control of Mabxience, Fresenius continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Eugin Group in 2020.

Mabxience, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average observed in the Healthcare & Pharma sector (16.1x in 2022).

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Target

mAbxience is a leading international biopharmaceutical company focused on the rapidly developing biosimilars market, founded in 2010 as the biotechnology division of Insud Pharma S.L. The company has established itself as a leader in the development and manufacturing of biological drugs, with two commercialised biosimilar products (Rituximab and Bevacizumab) and a mid-single-digit number of molecules across immunology and oncology expected to be launched globally between 2024 and 2029. mAbxience operates three state-of-the-art biologics manufacturing facilities in Spain and Argentina, supported by internal R&D laboratories, offering highly competitive production costs. In addition to its proprietary biosimilars programmes, mAbxience operates a biologics CDMO business serving third-party clients, including a contract with AstraZeneca to produce the drug substance for its COVID-19 vaccine in Latin America.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2021

2020

Other operations with Fresenius

Other operations with Fresenius
Date	Acquirer	Target	Country	Sector
03/2022	FRESENIUS	IVENIX	UNITED STATES	Diagnostic Equipment
12/2020	FRESENIUS	EUGIN GROUP	SPAIN	Outpatient Care
09/2017	FRESENIUS	NXSTAGE MEDICAL	UNITED STATES	Diagnostic Equipment

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REFERENCES

Revenue range: REV €250–500M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Mabxience by Fresenius are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: fresenius

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Mabxience, a Spanish company specialised in Pharma & Biotech, by Fresenius in 2022.

What was Mabxience’s revenue at the time of the deal?

At the time of the transaction, Mabxience’s annual revenue was estimated within the €250–500M range (FY 2021). Detailed financial figures are available to members.

How does the valuation of Mabxience compare to benchmarks in the Healthcare & Pharma sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 16.1x EBITDA during 2022.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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