M&A / Acquisition · Global (LMICs) · Announced 2 Sept 2025
Faes Farma → SIFI
Spain's Faes Farma completed its ~€270m (~$310m) acquisition of Italy's SIFI — its largest-ever deal — consolidating an ophthalmology franchise (~20% of group revenue) that carries a UAE joint venture and strengthens its Turkey and MENA-export footprint.
Parties: Faes Farma (Spain) → SIFI (Italy)
- Deal type
- M&A / Acquisition
- Value
- $310m
- Territory
- Spain/Italy transaction with emerging-market exposure via SIFI's UAE and China joint ventures and Faes's Turkey, Romania and MENA export markets
- Therapeutic area
- Ophthalmology
- Asset
- SIFI ophthalmology business (incl. Akantior / polyhexanide for acanthamoeba keratitis)
- Announced
- 2 Sept 2025
Our analysis
Why this matters
Faes Farma (Bilbao, Spain; listed) completed the acquisition of 100% of SIFI (Catania, Italy), an 85-year ophthalmology specialist, for an initial ~€270m enterprise value (~$310m) plus earn-outs tied to Akantior commercial milestones in Europe and the US.
Announced June 2025 and completed on 2 September 2025, it is the largest acquisition in Faes Farma's history and, with the March-2025 purchase of Portugal's Edol (€75m), lifts ophthalmology to roughly 20% of group revenue.
The full analysis is free to read with a work email on this page.
Source: Faes Farma