LEO Pharma successfully refinances loan facility
Ballerup, November 15, 2021 – Today, LEO Pharma announced that it has successfully refinanced the company’s syndicated loan facility of total DKK 11.2 billion.
The facility agreement expands the timeline for LEO Pharma’s total syndicated loan facility to 2026 and allows access to an additional DKK 1.5 billion and a total of up to DKK 11.2 billion composed of a combination of loans and revolving credit facility. This supports the company’s ambitious growth strategy towards 2030, potentially including introducing the company on the stock exchange.
- We are very satisfied with the new facility that allows access to flexible funding running through 2026 allowing us to make the required investments to deliver on our growth strategy towards 2030, said Anders Kronborg, CFO and Executive Vice President in LEO Pharma.
The company’s 2030 strategy entails launching several new innovative treatments that are either first or best in class within medical dermatology, which is expected to be one of the fastest growing therapeutic areas towards 2030. As a result, the company is expected to deliver consecutive double-digit growth and to reach an attractive EBITDA margin by 2025 preparing the company for a potential IPO.
The refinancing facilitated with a consortium of Nordic banks marks LEO Pharma’s inaugural sustainability-linked credit facility and has an interest mechanism that links borrowing costs to LEO Pharma’s progress on defined sustainability targets. This entails growing the company in medical dermatology with integrity and respect for employees, partners and society, and that the targets in the loan are linked to LEO Pharma’s defined targets on carbon reduction, and on gender diversity in management.
Nordea has acted as sole Coordinating Bookrunner, Mandated Lead Arranger, Documentation Agent and Sustainability Coordinator of the facility.
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About LEO Pharma
About LEO Pharma
LEO Pharma helps people achieve healthy skin. The company is a leader in medical dermatology with a robust R&D pipeline, a wide range of therapies and a pioneering spirit. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, setting new standards of care for people with skin conditions. LEO Pharma is headquartered in Denmark with a global team of 6,000 people, serving 93 million patients in 130 countries. In 2020, the company generated net sales of DKK 10,133 million. For more information, please visit www.LEO-Pharma.com.
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Latest releases from LEO Pharma
Catherine Mazzacco is leaving the position as President and CEO of LEO Pharma30.11.2021 13:00:00 CET | Press release
Ballerup, November 30, 2021 - After more than two years of leading LEO Pharma through a major transformation and a change of capital structure in a volatile environment during the global pandemic, the Board of Directors of LEO Pharma and President and CEO, Catherine Mazzacco, have jointly agreed that she will resign from her current role and leave the company on November 30, 2021.
Adtralza® (tralokinumab) achieves primary and secondary endpoints in Phase 3 trial of adolescents with moderate-to-severe atopic dermatitis22.10.2021 13:00:00 CEST | Press release
Sixteen-week results from the Phase 3 ECZTRA 6 trial in adolescents showed tralokinumab 150 mg and 300 mg significantly improved measures of efficacy compared to placebo1 Tralokinumab was generally well-tolerated with an overall frequency and severity of adverse events comparable with placebo, consistent with that observed in adults in Phase 3 trials1 BALLERUP, Denmark, October 22, 2021 – LEO Pharma A/S, a global leader in medical dermatology, today announced 16-week results of a 52-week monotherapy trial showing tralokinumab significantly improved primary and secondary measurements of efficacy among adolescents (aged 12 to 17) with moderate-to-severe atopic dermatitis.1 The week 16 results from the Phase 3 ECZTRA 6 trial were shared during the 2021 Fall Clinical Dermatology Conference held virtually and with a hybrid option in Las Vegas. Tralokinumab is a high-affinity, human monoclonal antibody that specifically binds to and inhibits IL-13, a key driver of atopic dermatitis signs and
LEO Pharma presents new Adtralza® (tralokinumab) data following long-term continuous treatment at EADV 30th Congress30.9.2021 10:40:00 CEST | Pressemeddelelse
• Interim analysis of ECZTEND, an open-label extension trial, demonstrated sustained improvements in extent and severity of atopic dermatitis after two years of continuous treatment, with a 92.7% median EASI improvement from parent trial baseline1 • Patients also reported improvements in itch severity and sleep interference1
LEO Pharma and Veeva Systems Partner for Patient-centric Digital Trials29.9.2021 14:00:00 CEST | Press release
Connected solution aims to deliver faster trials and a better patient experience BALLERUP, DENMARK and PLEASANTON, CA — Sept. 29, 2021 — LEO Pharma, a global leader in medical dermatology, and Veeva Systems (NYSE: VEEV) today announced a strategic technology partnership to enable scalable digital trials that are patient-centric and paperless.
LEO Pharma and X-Chem Enter Into Discovery Research Agreement6.7.2021 08:00:00 CEST | Press release
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Jesper Brandgaard ny formand for LEO Pharmas bestyrelse1.7.2021 13:00:00 CEST | Pressemeddelelse
Jesper Brandgaard bliver ny formand for LEO Pharmas bestyrelse. Han afløser Olivier Bohuon.
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