MADRID: One of Spain’s wealthiest pharmaceutical families is preparing to redouble its drug-industry investments after selling its stake in a skincare products firm for 1.2bil (US$1.38bil).
Corporacion Quimico-Farmaceutica Esteve SA plans to reinvest part of the proceeds from the sale of its share of Isdin SA into areas such as healthcare, pharmaceuticals and contract drug manufacturing, or CDMO, a spokesperson for the Esteve family told Bloomberg.
No final decision has been made on how the money will be deployed.
Some of the funds are expected to go to Esteve Healthcare, the family’s pharmaceutical company, which makes medicines and drug ingredients for other companies.
Puig Brands SA agreed on Tuesday to buy the 50% of Isdin it didn’t already own. Puig shares fell as much as 3.8%.
Barcelona-based Esteve Healthcare reported a 2025 revenue gain of 11% to 828mil, with earnings before interest, taxes, depreciation and amortisation rising 9% to 151mil.
In recent years, the company divested its generic drugs business and expanded into so-called speciality medicines through a string of deals mostly in Europe.
Esteve last year also grew its CDMO business with the acquisition of US-based Regis Technologies. — Bloomberg
