This week’s infographic looks at the largest PE deals in EMEA pharma services & life sciences, covering transactions announced or completed in 2025.

This data has been sourced from the HBI Intelligence database.

STADA Arzneimittel leads the ranking by a significant margin, with CapVest agreeing to acquire a majority stake from Bain Capital and Cinven in a deal valuing the German drugmaker at approximately $11,700 million. Zentiva followed with GTCR acquiring the Czech generics group from Advent International in a deal valued at approximately $4,800 million. KKR’s acquisition of Swedish consumer health group Karo Healthcare from EQT follows at approximately $2,800 million. Biotage rounds out the top four with KKR also making a take-private offer for the Swedish life sciences group at approximately $1,200 million, with DBAY Advisors’ acquisition of UK-based Alliance Pharma at approximately $467 million completing the ranking.

Note: We have taken the 2025 full-year average rate of 1 EUR = 1.1306 USD for conversions. Other significant EMEA PE deals in the period include Warburg Pincus’s acquisition of a significant minority stake in French specialty diagnostics firm Sebia, reported to value the business at approximately €5,500 million (EU-approved December 2025), excluded here as it represents a minority rather than a majority/controlling acquisition. The list focuses on majority or take-private transactions only.