PRINT THIS PAGE Warburg Pincus buys $40m stake in new European specialty pharmaceutical company10/02/2005. Source: AltAssets. 
 US private equity giant Warburg Pincus has bought a $40m stake in the new European specialty pharmaceutical company Archimedes Pharma. The new firm aims to buy in product as well as develop its own pipeline of drugs, both of which activities will be funded in part by the private equity firm's injection.
Richard de Souza, chief executive of Archimedes Pharma, said, 'Our strategy is to grow our commercial presence through the acquisition of pharmaceutical companies or brands in Europe and through partnering with companies looking for a marketing presence in Europe. In parallel, we will develop our own pipeline of innovative near term products to support our commercial organisation.'
In its first acquisition Archimedes has bought the nasal drug delivery assets of West Pharmaceutical Services. West has transferred substantially all of its technology-related drug delivery assets to Archimedes and will receive $7.1m in cash and approximately 14 per cent of the stock in Archimedes.
Nick Lowcock, a Warburg Pincus managing director, said, 'Our investment in Archimedes is an excellent example of the Warburg Pincus approach of looking to bring together world-class management teams with well thought out development plans and to provide substantial backing to those teams.'
As a leading direct investor in healthcare, Warburg Pincus has already invested almost $3bn in more than 100 healthcare companies. The firm invests in companies at all stages of a life cycle from start-ups and providing growth capital to leading restructurings, recapitalisations and buy-outs. Warburg Pincus also invests in a range of other sectors including business services, energy, financial services, healthcare and life sciences, information and communication technology, media and real estate.
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