#Italy #AKANTIOR #SIFI #Catania #Faes Farma

SIFI's Strategic Merger with Faes Farma: Expanding Global Reach in Ophthalmology

In a groundbreaking move within the ophthalmic sector, SIFI, a prominent international company specializing in eye care, has announced its merger with Faes Farma, a respected pharmaceutical powerhouse from Spain. This strategic agreement is designed to foster synergy between the two enterprises, allowing them to leverage their complementary operations and extend their reach across various international markets. By pooling their resources and expertise, the merged entity aims to create one of the most extensive ophthalmic portfolios in the industry, pushing forward innovative solutions aimed at enhancing patient care and access.

Details of the Merger

On June 10, 2025, SIFI's shareholders confirmed they will sell 100% of the company’s shares to Faes Farma, contingent on certain preliminary conditions. This transaction validates SIFI's unique business model, which combines pharmaceuticals and surgical units with contract manufacturing and rare disease divisions. Judith C. Green, a board member of SIFI, expressed that this merger marks a pivotal moment in not only SIFI's future but also in the realm of ophthalmology as a whole, integrating diverse geographic strengths and fostering growth opportunities in both companies’ existing and new markets.

Faes Farma’s recent acquisition of Laboratorios Edol, a leading Portuguese pharmaceutical company, further solidifies its foothold in the eyecare market. Together, the merger enables an anticipated 20% increase in pro-forma revenue generated from ophthalmology, allowing for enhanced capabilities to meet the always-growing demands within this healthcare sector.

Strategic Benefits of the Merger

The integration creates significant growth potential through mutual geographic expansion, particularly in high-growth regions such as Italy, France, Romania, and Turkey. Simultaneously, it strengthens Faes Farma's presence in established markets, including Mexico and Latin America. The collaboration will unlock cross-selling opportunities aimed at improving growth margins derived from operational efficiencies.

Key innovations expected to emerge from this merger include furthering the development of SIFI’s flagship product, Akantior, which is the sole approved treatment for Acanthamoeba Keratitis in the world, a severe infection impacting the corneal health of thousands of patients. As Akantior gains momentum in the market, especially in the United States, SIFI is optimistic about introducing new indications for polihexanide, thereby enhancing its therapeutic offerings.

Faes Farma’s commitment to supporting SIFI means bolstering its existing production plants, which specialize in ophthalmic medication manufacturing and intraocular lenses. The anticipated increase in production capacity is expected to meet the demands of the merged customer base adequately, enhancing the overall operational efficiency of the combined organization.

Reactions from Leadership

Fabrizio Chines, CEO of SIFI, stated that this merger represents a significant milestone, accelerating growth and expanding access to essential ophthalmic treatments. He emphasized the shared values and objectives of the two companies in creating a sustainable ophthalmic franchise focused on patient care and innovation.

Meanwhile, Eduardo Recoder de la Cuadra, Faes Farma's CEO, expressed high regard for SIFI’s robust business model and aspirations for growth in ophthalmology. He noted that collaborating with SIFI's management team will accelerate their collective goals to transform and expand their product offerings, ultimately enriching the patient experience in eyecare.

Financial Aspects of the Deal

The merger values SIFI at a competitive multiple of its 2024 EBITDA, complemented by potential earn-outs linked to specific regulatory milestones and commercial successes accompanying Akantior's performance. The merger is on track for completion in the third quarter of 2025, pending approval from relevant authorities and a shareholders' meeting set for July 2025.

The financial details of the transaction are under negotiation, with Evercore Partners and Mediobanca serving as advisors for SIFI, while J.P. Morgan is guiding Faes Farma through the financial aspects of this significant development in the ophthalmic sector.

As these two industry leaders unite, their collaboration is not just a merger of convenience; it’s a strategic alignment that promises to redefine the landscape of ophthalmic treatments worldwide, ultimately aiming to improve the lives of patients around the globe. This merger reinforces a clear commitment within both organizations to advance healthcare innovation, ensuring patient needs remain at the forefront of their mission.