Sartorius Stedim Biotech completes acquisition of Novasep's chromatography division
Sartorius Stedim Biotech has completed the acquisition of Novasep's chromatography division as of February 7, 2022. This acquisition, initially agreed in early 2021, is expected to add approximately 1 percentage point in non-organic sales revenue growth, raising the company's overall forecast for 2022 to a 15-19 percent increase. The business acquired generated 40 million euros in sales in 2020. Sartorius remains committed to strong profitability, with an underlying EBITDA margin expected to exceed 35 percent for the year.
- Acquisition of Novasep's chromatography division contributes an expected 1 percentage point to non-organic sales growth in 2022.
- Consolidated sales revenue forecast raised to 15-19 percent growth, up from 14-18 percent.
- Acquired division generated 40 million euros in sales in 2020.
- None.
- Sales revenue forecast for 2022 updated due to acquisition
AUBAGNE, France, Feb. 8, 2022 /PRNewswire/ -- Sartorius Stedim Biotech, a leading partner of the biopharma industry, announced today that it closed the acquisition of the Novasep chromatography division as of February 7, 2022, following approval by the U.S. Federal Trade Commission. The transaction had already been agreed upon at the beginning of 2021. The business acquired generated sales of around 40 million euros in 2020 at a double-digit profit margin; final figures for 2021 are not yet available. The majority of the approximately 100 employees work at the Pompey site in eastern France and some in the USA, China, and India.
The portfolio acquired comprises chromatography systems primarily suited for smaller biomolecules, such as oligonucleotides, peptides, and insulin, as well as innovative systems for continuous manufacturing of biologics. Since 2018, Novasep and Sartorius Stedim Biotech have also been jointly developing optimized systems for a membrane-based chromatography technology.
As the acquisition is expected to generate additional non-organic sales revenue growth of around 1 percentage point in 2022, Sartorius Stedim Biotech has updated its sales revenue forecast for the current year as follows: Consolidated sales revenue is now expected to increase by about 15 percent to 19 percent (previously about 14 percent to 18 percent), with non-organic growth from acquisitions projected to contribute about 2 percentage points (previously about 1 percentage point). The company's underlying EBITDA margin remains forecasted at more than 35 percent this year.
All forecasts are based on constant currencies.
This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events. Sartorius Stedim Biotech shall not assume any liability for the correctness of this English text. The original French press release is the legally binding version.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2021, the company employed more than 10,400 people, and earned sales revenue of around 2.89 billion euros according to preliminary figures. Follow Sartorius Stedim Biotech on Twitter @Sartorius_Group and on LinkedIn.
Contact
Petra Kirchhoff
Head of Corporate Communications and Investor Relations
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com
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SOURCE Sartorius Stedim Biotech S.A.
FAQ
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