According to media Insidebusiness, Danish pharmaceutical group Orifarm, owned by the Bøgh-Sørensen family, has hired international corporate finance company Rothschild to sell an ownership stake in Orifarm.

Orifarm operates in two areas; parallel import of medicines and sales of counterfeit medicines. The company is currently undergoing a major transformation after Orifarm, which has traditionally been involved in parallel import of medicines, in 2020 bought 110 medicines and two factories in Denmark and Poland from the Japanese pharmaceutical company, Takeda, at a price of DKK 4.6bn (USD 650m).

In 2022, Orifarm had a revenue of DKK 11.3bn (USD 1.59bn) compared to DKK 10.5bn (USD 1.48bn) the year prior. Operating profit has increased to DKK 454m (USD 64.17m) from DKK 413m (USD 58.39m), but the actual result dropped from DKK 213m (USD 30.1m) in 2021 to DKK 204m (USD 28.88m) for 2022.

Three years ago, Bøgh-Sørensen completed the third part of the generational change in Orifarm Group by channeling a large part of its shares to the next generation.

”Proud is not a word I use very often. I’m happy that the children have bought into the mindset we presented to them during the first handover in 2016. This is the reason that we are now taking the next step,” Hans Bøgh-Sørensen told business media Finans, which outlined the following facts about the generational change:

• The latest step in the planned generational change means that the three children (Christian, Anne-Charlotte and Andreas), through their respective holding companies, will now each receive an additional 15% of ownership in Habico Holding A/S.
• As a result, each of the second generation now owns 30% of the share capital in Habico Holding A/S, while Hans Bøgh-Sørensen holds the remaining 10% of the share capital and the majority of the votes.
• Through Habico Holding A/S, the company primarily owns Orifarm Group A/S and Habico Invest A/S, which is the family’s investment company.
• The first step in the generational change was completed in 2016, when the two oldest children turned 18. The next step was made in 2018, when the youngest turned 18, and the third step has now been taken.

Hans Bøgh-Sørensen has not confirmed the story to Insidebusiness.

(This article was provided by MedWatch’s Danish sister media, KapitalWatch. Translated using DeepL with additional editing by Katrine Gøthler)