The pharmaceutical contract manufacturing industry in Europe is pivotal for producing drugs and therapies that enhance health outcomes. Companies in this sector range from large multinationals to specialized firms, offering services like active pharmaceutical ingredient (API) production, formulation, and packaging. Increasing demand for innovation, particularly in biotechnology and personalized medicine, is steering the industry toward new technological solutions. Additionally, regulatory considerations and a growing emphasis on sustainability are influencing production practices. As European nations prioritize healthcare advancements, the collaboration between manufacturers and pharmaceutical firms will only intensify, ensuring a robust future for the industry.


This list features a mix of corporate, venture capital, and private equity investors located in cities like Basel, Brussels, and Paris. Ranging from large companies such as Sanofi and Novartis, which employ over 10,000 people, to smaller venture-focused funds, these investors showcase a total of over 330 transactions in 2024. Established between 1945 and 1999, these firms represent a significant force in fostering pharmaceutical innovations and providing financial support for manufacturing advancements across Europe.


Top 12 Pharmaceutical Contract Manufacturing Investors in Europe


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. In recent years, Novo Holdings has made significant investments in the pharmaceutical contract manufacturing space, including the acquisition of Catalent Pharma Solutions for $16.5 billion, which includes a secondary sale of manufacturing sites to Novo Nordisk for producing GLP-1 drugs. Additionally, they acquired The Ritedose Corporation, a sterile pharmaceutical manufacturer, to bolster its capabilities in bringing life-saving drugs to market. These strategic moves highlight Novo Holdings' commitment to enhancing pharmaceutical manufacturing capabilities and supporting the life sciences sector.


2. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Notably, the EIC has been involved in several transactions relevant to the pharmaceutical contract manufacturing industry. For instance, it awarded £2M to Exactmer through its Transition programme to fund research in the synthesis and manufacture of oligonucleotide therapeutics, highlighting its commitment to advancing pharmaceutical manufacturing technologies. Additionally, the EIC has supported companies like Cellevate with seed financing to accelerate their global commercial launch, further demonstrating its engagement in the pharmaceutical sector.


3. Sofinnova Partners


Sofinnova Partners is a Paris-based venture capital firm founded in 1972, specializing in life sciences investments. With a focus on innovative healthcare startups, they provide funding and strategic guidance primarily in the biopharma and medtech sectors. Notable transactions include their participation in funding rounds for CinCor Pharma, which raised significant capital to advance its product candidate for hypertension through clinical trials. Their investments in companies like Ablynx, which has developed a unique Nanobody platform, further demonstrate their commitment to fostering scientific advancements in healthcare. Although Sofinnova Partners does not exclusively target pharmaceutical contract manufacturing, their investments in biopharma companies suggest a potential interest in the broader pharmaceutical ecosystem, including contract manufacturing services.


4. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in the healthcare sector, managing a diversified portfolio that includes investments in human medicine, biotechnology, medical technology, and diagnostics. Notably, HBM has participated in several significant transactions, including investments in SAI Life Sciences, a company that raised $2.7 million in a venture round, indicating their interest in pharmaceutical contract manufacturing. Additionally, they have invested in Swixx Biopharma, which has secured substantial funding rounds, further demonstrating their engagement in the healthcare market. HBM Healthcare Investments serves investors seeking growth opportunities in the rapidly evolving healthcare landscape, making them a relevant player in the pharmaceutical contract manufacturing industry.


5. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In 2024, EIB was involved in 99 investments, showcasing its active role in financing diverse initiatives. Among its notable transactions in the pharmaceutical sector, EIB provided €75 million to CureVac for its infectious disease vaccine programs, including its Covid-19 vaccine candidate, highlighting its support for critical health initiatives. Additionally, EIB has financed Emzor Pharmaceutical Industries, which raised over $14 million, further emphasizing its engagement in the pharmaceutical contract manufacturing space. These transactions reflect EIB's commitment to promoting growth and job creation within the pharmaceutical industry, making it a relevant investor in this field.


6. Forbion

  • Website: forbion.com
  • Type: Venture Capital
  • Headquarters: Naarden, North Holland, Netherlands
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: forbion-capital-partners

Forbion is a venture capital firm founded in 2006, located in Naarden, North Holland, Netherlands. The firm specializes in the life sciences and bioeconomy sectors, providing investment management and support to biotech companies. Forbion collaborates with entrepreneurs and academic institutions to address unmet medical needs and improve patient outcomes. Notable transactions include leading a $245M Series A funding round for Aiolos Bio, a clinical-stage biopharmaceutical company focused on developing therapies for asthma, and participating in a $120M Series B round for Pheon Therapeutics, which is also involved in drug development. These investments indicate Forbion's active role in supporting companies that may require pharmaceutical contract manufacturing services as they advance their product pipelines.


7. Novartis

  • Website: novartis.com
  • Type: Corporate
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: novartis

Novartis AG, founded in 1996 and based in Basel, Switzerland, is a leading pharmaceutical company dedicated to developing and manufacturing innovative medicines that address serious diseases. With a workforce of over 10,000 employees, Novartis emphasizes research and development to enhance patient outcomes across various therapeutic areas. Notably, Novartis has been involved in significant transactions, such as the acquisition of the European generics business of BASF Pharma for 115 million euros in 2000, which expanded their manufacturing capabilities in the generics market. This strategic move highlights their commitment to pharmaceutical manufacturing and their role in the industry. Additionally, Novartis has participated in various funding rounds for companies like Rani Therapeutics, which focuses on innovative drug delivery systems, further showcasing their interest in advancing pharmaceutical manufacturing technologies.


8. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, focused on economic development in Scotland. It provides a range of services including funding, business development advice, and support for innovation and exports. With a size of 1001-5000 employees, it plays a crucial role in enhancing Scotland's economic landscape. In recent years, Scottish Enterprise has been actively involved in the pharmaceutical sector, particularly in contract manufacturing. Notably, it awarded research and development funding of up to £20 million to Valneva, which includes grants specifically aimed at supporting the manufacturing processes for their Covid-19 vaccine candidate, VLA2001, as well as other vaccines. This investment highlights Scottish Enterprise's commitment to fostering innovation and growth in the pharmaceutical manufacturing industry. Additionally, their involvement in funding rounds for companies like ProFactor Pharma further emphasizes their engagement in supporting pharmaceutical development and manufacturing processes.


9. Andera Partners

  • Website: anderapartners.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1953
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: anderapartners

Andera Partners is a private equity firm based in Paris, Île-De-France, France, founded in 1953. The firm specializes in investment management and focuses on providing financial support and strategic guidance to companies across various sectors, including life sciences and infrastructure. In recent years, Andera Partners has been involved in several significant transactions within the pharmaceutical and biotech industries. Notably, they participated in multiple funding rounds for ReViral, a biotech firm focused on developing antiviral therapies, raising substantial amounts in Series A, B, and C financing. Additionally, they invested in Tubulis, which raised over $139 million in Series B funding in 2024. These transactions highlight Andera Partners' commitment to supporting innovative companies in the life sciences sector, making them a relevant player in the pharmaceutical contract manufacturing landscape.


10. Sanofi

  • Website: sanofi.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1973
  • Headcount: 10001+
  • Number of deals in 2024: 17
  • LinkedIn: sanofi

Sanofi is a corporate investor based in Paris, Île-De-France, France, founded in 1973. As a leading pharmaceutical company, Sanofi specializes in the research, development, manufacturing, and marketing of medications and vaccines across various therapeutic areas, including oncology and diabetes. In 2024, Sanofi was involved in 17 investments, showcasing their active role in the healthcare sector. Notably, they acquired a 66% stake in Dubai-based Globalpharma in 2014, aiming to enhance their production capacity for generic drugs in the Middle East. This acquisition allows Sanofi to manage Globalpharma and manufacture branded generic drugs, highlighting their commitment to pharmaceutical contract manufacturing. Additionally, their recent transaction with EuroAPI, which raised over $825 million in post-IPO debt, indicates their ongoing investment in companies that are integral to the pharmaceutical supply chain, particularly in active pharmaceutical ingredient manufacturing.


11. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, founded in 1982. It manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. The firm focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notable transactions include investments in Evotec, a company known for its drug development services, and Ablynx, which specializes in therapeutic proteins. These investments highlight Gilde Healthcare's engagement with companies that may intersect with pharmaceutical contract manufacturing, as they support the development and commercialization of new drugs and therapies.


12. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, focusing on sustainable growth. With a diverse portfolio and a strong international presence, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i Group has made significant investments in the pharmaceutical sector, including the acquisition of Alpharma's Active Pharmaceutical Ingredients business for approximately US$395 million in 2008, which specializes in injectable generics. Additionally, they acquired betapharm Arzneimittel GmbH in 2003, further solidifying their presence in the pharmaceutical manufacturing industry. These transactions highlight 3i Group's commitment to investing in companies that contribute to the pharmaceutical contract manufacturing landscape.



Pharmaceutical Contract Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Sofinnova PartnersParis, Île-De-France, France51-200197225
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
European Investment Bank (EIB)Luxembourg1001-5000195899
ForbionNaarden, North Holland, Netherlands11-50200623
NovartisBasel, Basel, Switzerland10001+19967
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
Andera PartnersParis, Île-De-France, France51-200195310
SanofiParis, Île-De-France, France10001+197317
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
3i Group plcLondon, England, United Kingdom (UK)201-50019453


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