LEO Pharma successfully refinances loan facility
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.
Contacts
Henrik Heskjaer
Global External Communications
+45 3140 6180
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
Annual report 2023: LEO Pharma delivers 10% revenue growth and returns to positive EBITDA29.2.2024 14:00:00 CET | Pressemeddelelse
Ballerup, February 29, 2024. – LEO Pharma delivers a solid operational performance uplift with double-digit revenue growth and an EBITDA uplift of DKK 2.1 billion, corresponding to a 20%-points margin improvement. LEO Pharma exceeded our profitability guidance and hit the upper range of our revenue growth guidance provided in March 2023.
LEO Pharma announces positive phase 3 head-to-head data results from DELTA FORCE trial comparing delgocitinib cream with alitretinoin capsules in adults with severe chronic hand eczema (CHE)24.1.2024 08:00:00 CET | Pressemeddelelse
Delgocitinib cream demonstrated a superior reduction in Hand Eczema Severity Index (HECSI) score from baseline to Week 12 compared to alitretinoin capsules as its primary outcome measure. Delgocitinib cream also demonstrated superiority to alitretinoin capsules in all key secondary outcome measures, including Investigator’s Global Assessment (IGA)-CHE treatment success, health-related quality of life (HRQoL), and a lower number of treatment-emergent adverse events. DELTA FORCE is the first head-to-head phase 3 trial comparing a systemic and topical treatment for CHE.1 With only one treatment option currently approved for severe CHE and no approved optionsfor more moderate forms of the disease, there is a considerable unmet need for patients living with CHE.
LEO Pharma finalizes acquisition of key assets from Timber Pharmaceuticals23.1.2024 12:30:00 CET | Pressemeddelelse
Strategic acquisition to expand pipeline, accelerate growth, and meet unmet needs in medical dermatology.
LEO Pharma announces positive outcome of DELTA 3 open-label extension trial of delgocitinib cream in the treatment of adults with moderate to severe chronic hand eczema (CHE)30.10.2023 10:00:00 CET | Pressemeddelelse
Subjects who completed the 16-week twice-daily treatment regimen of delgocitinib cream or cream vehicle in the phase 3 DELTA 1 or DELTA 2 trials were offered to immediately enroll into the 36-week DELTA 3 extension trial.1 The DELTA 3 trial evaluated the long-term safety of twice-daily as needed treatment with delgocitinib cream for up to 36 weeks in adults with moderate to severe CHE.1 The long-term safety profile of delgocitinib cream was consistent with previous results from the DELTA 1 and 2 trials. Patients who entered the DELTA 3 trial after receiving delgocitinib cream in the DELTA 1 and DELTA 2 trials maintained similar levels of symptom relief and treatment success over an additional 36-week treatment regimen.
LEO Pharma provides update on the development program for izuforant20.10.2023 09:43:02 CEST | Pressemeddelelse
The Phase 2a/b international trial to evaluate the efficacy and safety of orally administered izuforant tablets compared with placebo tablets for up to 16 weeks of treatment in adults with moderate to severe AD did not meet the primary endpoint. As a result, LEO Pharma ends the program for izuforant and terminates the license agreement with JW Pharmaceutical. LEO Pharma remains committed to delivering value for patients living with atopic dermatitis and other skin diseases.
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