Advent to sell generic drugmaker Zentiva to GTCR

Advent acquired Zentiva from Sanofi in 2018 and transformed the company into a highly successful standalone business

Zentiva, a leading European generics pharmaceutical company, together with Advent and GTCR, announced that Advent has agreed to sell Zentiva to GTCR, a global private equity firm with deep expertise in the healthcare and pharmaceutical sectors.

Advent acquired Zentiva from Sanofi in 2018 and has since worked closely with the management team to transform the company into a highly successful standalone business. Through significant investments in portfolio expansion, manufacturing capabilities, and targeted acquisitions, Advent supported Zentiva in strengthening its R&D capabilities, enhancing operational excellence, and broadening its reach to serve millions of patients across Europe.

With a proven track record of investing in the healthcare sector, GTCR brings two decades of experience in building market-leading pharmaceutical platforms through organic growth, product innovation, and strategic acquisitions. This positions GTCR to support Zentiva in its next phase of growth and ensure continued access to high-quality, affordable medicines.

Steffen Saltofte, CEO of Zentiva, said: “Advent has been an exceptional partner throughout our transformation journey, providing the investment and support needed to expand our pipeline, manufacturing base, and capabilities. This has enabled us to grow significantly while strengthening our ability to serve patients across Europe. As we begin our next chapter with GTCR, we are excited to build on this momentum and continue expanding access to affordable, high-quality medicines.”

Tom Allen, Managing Director at Advent, commented: “When we acquired Zentiva from Sanofi in 2018, we recognized the opportunity to create an independent European leader in affordable medicines. Over the past seven years, Zentiva has more than doubled its revenue and EBITDA, thanks to strong collaboration with the management team and significant investment in its growth. Zentiva is a prime example of Advent’s ability to carve out non-core divisions and transform them into thriving, market-leading businesses. We are immensely proud of the progress achieved and confident that Zentiva will continue to flourish under GTCR’s ownership.”

Sean Cunningham, Managing Director and Head of Healthcare at GTCR, added: “We are delighted to partner with Steffen Saltofte and the talented Zentiva management team in this next phase of growth. Zentiva has demonstrated impressive performance through both organic and inorganic expansion, supported by a robust pipeline and efficient manufacturing platform. With its commitment to delivering high-value medicines to patients across Europe, we look forward to supporting Zentiva in advancing its mission.”

The transaction remains subject to customary regulatory approvals and is expected to close in early 2026.

Advent was advised by Goldman Sachs and PJT Partners as lead financial advisors and Freshfields as lead legal advisor. GTCR was advised by Barclays Bank PLC, acting through its Investment Bank, and BNP Paribas as lead financial advisors, Morgan Stanley & Co. LLC as financial advisor, and Kirkland & Ellis LLP as legal advisor.