LONDON: Aztiq has agreed to sell its majority stake in Adalvo to global investment firm EQT, expanding EQT’s portfolio in the pharmaceutical sector across Europe, Asia Pacific and the Americas.
Founded by Aztiq in 2018, Adalvo has grown into a leading business-to-business pharmaceutical company, employing more than 280 staff and maintaining over 170 commercial partnerships across 140 countries.
Robert Wessman, founder and chairman of Aztiq, expressed pride in Adalvo’s achievements and reaffirmed his commitment to support its future as a minority shareholder.
“Adalvo was built to meet global demand for affordable, high-quality medicines,” said Wessman. “Its rapid growth speaks volumes about the dedication of its leadership and the company’s mission.”
Matteo Thun, Partner at EQT, praised Adalvo’s strength in dossier development and its agile, scalable business model.
“We’re excited to join forces with CEO Anil Okay and his respected team,” Thun said. “Together, we’ll invest in innovation and expansion to scale Adalvo’s operations and supply chain.”
Okay added that EQT’s alignment with Adalvo’s long-term goals and healthcare vision make it a strategic fit for the next phase of growth.
Jefferies acted as financial advisor to Aztiq, with Hogan Lovells serving as legal counsel. The transaction is subject to regulatory approvals and is expected to close in the second half of 2025.