As part of the deal, other existing shareholders – including Aztiq, the holding company of Adalvo’s current chairman, Róbert Wessman – will reinvest part of their existing holdings and remain minority shareholders.

Since its founding in 2018, Adalvo has grown rapidly and become a partner to over 170 generic companies in more than 140 countries worldwide. Headquartered in Malta, with more than 280 employees and offices in 15 countries across Europe and India, the company offers a specialty portfolio that drives affordable health outcomes for patients globally. With increasing demand for effective treatments across indications and therapeutic areas, Adalvo is well positioned for continued expansion.

EQT will support the next phase of Adalvo’s growth journey through targeted investments in R&D, the supply chain and operational excellence. This will help expand its product portfolio with a steady stream of new launches, expand the robust supply chain to cover a wide range of partners and jurisdictions, and enhance business development opportunities for its partners through greater flexibility, reach and speed to market.

The Reed Smith team advising on the deal was led by partner Tom Whelan, with support from partner Harrison Stimson, associate Alex Pierce and trainee Alice Reeve.

The deal is subject to customary conditions and approvals. It is expected to close in H2 2025.