Florence, 14th May 2021 - Menarini Group takes home the prestigious M&A Award 2021 for the “Italy acquires Abroad“ category in recognition of their landmark acquisition of Stemline Therapeutics, a U.S. biotechnology company focused on oncology treatments based in New York and formerly quoted on NASDAQ.
2020 was an unprecedentedly arduous year around the world and the pandemic hit many different industrial sectors very hard. For the pharmaceutical and healthcare sectors it was no different and to enter into a $677 million acquisition, take over 100% of the shares to a U.S. biotechnological company, expand the Group’s research and development capabilities and enhance their commitment to oncology therapeutics in the middle of a global pandemic, was a bold move.
This strategic move was acknowledged by a selected jury at the XVII edition of the M&A Award, an initiative founded by KPMG and Fineurop Soditic, which took place virtually on 13th May 2021 and was broadcast by Class CNBC.
The organisers of the event, KPMG and Fineurop Soditic said: “The Jury decided to acknowlege one of Italy’s leading pharmaceutical companies, Menarini, for their acquisition of U.S. company, Stemline Therapeutics, and for having demonstrated entrepreneurial courage in continuing its growth through international acquisitions, despite the difficulties deriving from the pandemic”.
During the ceremony the prize was conferred to CEO and Board Member of Menarini Group, Elcin Barker Ergun, who commented: “We feel extremely proud to have been awarded with this accolade in recognition of our acquisition of Stemline and the growth and expansion possibilities that this acquisition has brought with it. Stemline’s world class R&D capabilities will help Menarini bring forth new and innovative therapeutics, for the benefit of patients suffering from cancer”.
About KPMG:
KPMG International operates as a network of member firms offering audit, tax and advisory services in over 146 countries throughout the world and with 227,000 professionals. The KPMG Network has been operating in Italy since 1958. Today, with more than 4,000 professionals and 200 Partners operating in 25 major Italian cities, over 6,000 clients and a full service portfolio which addresses national and international markets’ requirements, it is recognized by its stakeholders as the most important provider of professional services in Italy.
About Fineurop Soditic:
Fineurop Soditic is an independent corporate finance boutique established in 1998. Its activities range from mergers and acquisitions to debt advisory and acquisition financing. Headquartered in Milan, it has an extensive international network. Fineurop Soditic has successfully concluded over 550 domestic and cross border transactions, on behalf of clients including international private equity firms and corporates looking to make acquisitions in Italy and local companies wishing to sell, restructure or refinance their businesses. It has established a position as a leading player in the Italian market with a particular focus on mid-sized businesses.