#Italy #Milan #Pharmathen #NTC Pharma #Wise Equity

NTC Completes Strategic Acquisition in Ophthalmology

NTC S.r.l., a leading Italian pharmaceutical company specializing in ophthalmology, has successfully completed the acquisition of the ophthalmology business from Pharmathen. Supported by its major shareholder, Wise Equity, this move significantly enhances NTC's competitive edge in the European ocular care market. The strategic acquisition is projected to increase NTC's revenue by approximately €100 million, with over 80% originating from ophthalmological products. Notably, this deal allows NTC to expand its International reach, including entry into the United States market.

This acquisition adds a consolidated and global portfolio of glaucoma treatments for NTC, which were manufactured in various third-party facilities across Europe and the U.S., and marketed through a robust B2B network throughout Europe and select international markets. NTC aims to leverage this new product offering to serve patients better while also expanding its international presence.

According to Riccardo Carbucicchio, CEO of NTC, "The acquisition of Pharmathen's ophthalmology business strategically complements our portfolio. By integrating therapies for glaucoma treatment, we reinforce our commitment to patients seeking long-term, reliable treatment options. Our global network of partners positions us to internationalize this offering while introducing our current portfolio to new partners through this acquisition. Today, NTC stands ready as a comprehensive partner for companies entering the ophthalmology sector or looking to enhance their existing portfolios."

John Nason, CEO of Pharmathen Group, remarked, "The strategic transition of our ophthalmic portfolio into the hands of an experienced and specialized partner like NTC ensures these products receive the necessary ongoing investment, consistent supply, and sustained value for clients, reaching a broader patient base."

Stefano Ghetti, Senior Partner at Wise Equity, highlighted this acquisition as aligning perfectly with their investment philosophy, which focuses on supporting strong identity companies with clear specialization, facilitating growth through synergistic acquisitions.

The impact of glaucoma is significant, affecting about 80 million people globally, with projections indicating a rise to nearly 112 million by 2040. This chronic condition remains a leading cause of vision loss if untreated. The acquisition enables NTC to take a critical role in this area, expanding therapeutic coverage while unlocking significant growth potential internationally.

In Italy and Spain, where NTC operates with a dedicated field team for ophthalmologists, the acquisition broadens its therapeutic proposition to include glaucoma. On a global scale, this integration creates important commercial synergies and opens new avenues for expansion. The newly acquired portfolio also provides NTC with access to the substantial U.S. market through its B2B model, with support from established alliances.

Over the last decade, NTC has built a competitive portfolio addressing key clinical needs ranging from antibiotic therapies to treatments for allergies and dry eyes. For instance, their fixed-dose combination eye drops containing an anti-inflammatory steroid and a quinolone antibiotic have gained worldwide success, supported by Europe’s largest clinical program in cataract surgery.

Acquiring a high-quality glaucoma product portfolio further solidifies NTC's position as a top player in European ophthalmology by units sold, broadening their commercial reach to over 100 countries through more than 250 distributors.

Advisors for NTC and Wise Equity

• - Corporate and M&A Legal Advisor: Deloitte Legal Italy (Carlotta Robbiano, Francesco Savi, Alessandra Frassanito)
• - Financial Advisor: KPMG Italy (Matteo Ennio, Matteo Ghislandi)

Financing

• - Banks: Crédit Agricole Italia – Financial leverage (also acting as agent), Banca Ifis – Structured finance
• - Legal Advisors to Banks: Dentons
• - Debt and Finance Advisors to NTC and Wise Equity: Deloitte Legal Italy (Gabriele Pavanello, Marco Gasparrini)

About NTC

Founded in Milan, NTC S.r.l. is a pharmaceutical company with over 250 partners in more than 100 countries, focusing on researching, developing, registering, and marketing medications, medical devices, and dietary supplements mainly for ophthalmology and other therapeutic fields like pediatrics, gynecology, and gastroenterology. More info at NTC Pharma

About Pharmathen

Pharmathen is a leading European developer and manufacturer of intricate drug delivery technologies, specializing in extended-release injectables, sustained-release products, and ophthalmics. Established in 1969 and operating in Greece with FDA-approved facilities, Pharmathen supplies over 100 products to more than 250 clients in more than 90 countries. Visit Pharmathen

About Wise Equity

Wise Equity is a private equity firm focused on managing closed-end funds that invest in small to medium-sized enterprises, particularly in Italy. They aim to enhance competitiveness and profitability through leveraged buyouts and development capital focused on niche market leaders. Presently, Wise Equity manages three funds tailored to fostering growth in their managed businesses.