Europe Virgin Fund L.P. (‘EVF’), a private equity fund sponsored by Dragon Capital, has completed formation of a 50/50 joint venture {{{*}}} with Ucrafarma S.A., a Spanish pharmaceutical company. The partners have united their forces in Lux PHARMA Participations SA, a Luxembourg-based holding company, with Ucrafarma transferring various pharmaceutical assets including its 95% stake in Sperco Ukraine LLC (‘Sperco’) and EVF providing development capital.
Established in 1997, Sperco is one of the top 10 pharmaceutical manufacturers in Ukraine, with a portfolio of 20 generic products. The company manufactures and markets lifestyle OTC and Rx pharmaceuticals in therapeutic areas such as cough and cold, women’s health, sedatives, pediatrics, dermatology and antibiotics. Sperco Ukraine is based in Vinnytsia, with a commercial hub in Kyiv. The company has over 300 employees.
The capital provided by EVF will be invested in completing reconstruction of the company’s manufacturing facilities in Vinnytsia in line with GMP standards, developing its product portfolio and expanding distribution network.
DLA Piper provided legal advice to EVF and Lynx Advisors jointly with Lupicinio Abogados served as legal counsels to Ucrafarma.
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