Faes Farma completes the acquisition of SIFI and consolidates its international leadership in ophthalmology
- The transaction reinforces the Group’s new global strategy and boosts ophthalmology as one of its key growth areas.
- Thanks to this transaction and the acquisition of Edol in March, ophthalmology will account for around 20% of the Group’s revenue.
- Bank financing package has been signed for the transaction, without altering the dividend policy or compromising financial strength.
Bilbao, September 2nd, 2025. Faes Farma has announced the completion of the acquisition of 100% of the capital of the Italian company SIFI, valued at initially €270 million Firm Value plus earn outs eventually due should certain commercial milestones related to Akantior be met in Europe and the US. The transaction is part of the 2030 Strategic Plan and marks a transformational turning point in the positioning and global growth of the Group, which offers one of the most competitive offerings in the ophthalmology sector.
Faes Farma has obtained bank financing of €270 million for this acquisition on attractive economic terms and with a maturity profile that is appropriate for carrying out the integration of SIFI, focusing on achieving the expected commercial and operational synergies. Likewise, the Group remains committed to a prudent financial policy in terms of both debt and liquidity position.
It should be noted that the financing structure maintains Faes Farma’s financial strength, with a pro forma net debt/EBITDA ratio of 2x, allowing it to maintain its dividend policy with a target payout of 50%.
“This acquisition is a transformational move for Faes Farma and is in line with our vision of building a more global, more innovative, and more specialized pharmaceutical group. SIFI brings innovative products and cutting-edge technology, as well as talent, knowledge, and a culture that is deeply aligned with our values,” said Eduardo Recoder, CEO of Faes Farma.
Consolidation of ophthalmology as a strategic area
With the incorporation of SIFI, Faes Farma takes a decisive step forward in its commitment to ophthalmology as a strategic area of development. Together with the acquisition of Edol, this specialization becomes one of the Group’s key pillars, with an estimated weight of 20% of global revenues.
Founded more than 90 years ago, SIFI has nearly 500 professionals and a solid track record in the development and marketing of ophthalmic products. Its product portfolio includes more than 60 references, five recent launches, and the production and sale of intraocular lenses, enabling Faes Farma to expand its offering to the surgical segment.
It also brings a CMO (contract manufacturing) business unit, with significant agreements already signed that will provide new recurring revenue in the medium term. Additionally, the acquisition of AKANTIOR®, designated as an Orphan Drug in Europe and the USA, the first and only therapy approved in Europe and the UK for the treatment of Acanthamoeba keratitis—an ultra-rare and severe eye infection—represents a significant milestone. The product has been commercially available and reimbursed in Germany since October 2024 and received reimbursement approval in Spain with availability beginning August 1, 2025.
The integration significantly strengthens Faes Farma’s presence in key markets such as Italy, France, Romania, and Turkey, and consolidates its position in Spain, Mexico, and other strategic countries. This international network will be key to more ambitiously deploying its specialized business and continuing its geographic diversification process, along with the development of new business opportunities through licensing agreements.
“This acquisition represents a pivotal milestone for SIFI, highlighting the strength and potential of our portfolio and pipeline in ophthalmology. Becoming part of Faes Farma provides a unique opportunity to harness their expertise and operational infrastructure to accelerate the delivery of innovative therapies to patients worldwide. I am also honored to join Faes Farma’s Global Executive Team, where I will lead the Akantior and intraocular lenses’ business and support Eduardo in driving forward new strategic growth initiatives.”, stated Fabrizio Chines, CEO of SIFI.
Orderly integration
The integration process has been designed to run in an orderly and respectful manner, ensuring the retention of key knowledge in all SIFI subsidiaries, including the headquarters in Italy. SIFI’s current management team will join the Group in this new phase, bringing with them a shared vision, philosophy, and values.
“Our priority is to ensure a smooth transition that respects what makes each company unique. We are not just integrating structures: we are integrating people, knowledge, culture, and purpose“, adds Eduardo Recoder.
In the coming months, progress will be made in defining the consolidated organizational model, including the gradual integration of teams and operations.
