Fresenius stock gains full control of mAbxience in EUR 750 million deal

Fresenius said on October 1, 2026, that it had acquired the remaining 45 percent of mAbxience, completing full ownership of the biosimilars company. The transaction had been signed and closed on September 30, with no regulatory approvals required. BÖRSE ONLINE published the EQS release.

Control over growth platform

Fresenius paid up to EUR 750 million in cash, including a conditional EUR 50 million payment linked to successful production-site approvals. The company said the purchase was funded from existing liquidity and operating cash flow. The payment settles the liability previously recognized for the put option on the 45 percent non-controlling interest.

mAbxience has three multi-product manufacturing sites in Spain and Latin America and employs more than 1,300 people. The business develops and produces biosimilar monoclonal antibodies and provides contract development and manufacturing services. In 2025, mAbxience generated more than EUR 320 million in revenue and contributed positively to Fresenius Kabi's EBITDA margin.

Fresenius said full ownership gives it greater control over investment, production capacity, product selection and launch timing. The company also expects the acquisition to contribute immediately to adjusted earnings per share after closing. The release said the biosimilars market could exceed EUR 180 billion by 2035, although that is a market estimate rather than Fresenius guidance.

Balance sheet remains in focus

The transaction is expected to lift Fresenius' net debt-to-EBITDA ratio by around 20 basis points. Management continued to expect the ratio to remain at the lower end of its self-imposed 2.5 to 3.0 times target range for the full year. Fresenius also left its 2026 outlook unchanged and retained its 2030 ambition to roughly double biopharma revenue from 2025 while reaching an EBIT margin of around 20 percent.

Fresenius stock traded at EUR 47.50 on Lang & Schwarz at 10:10:25 CET on Friday, October 30, 2026, 1.06 percent above the Xetra close of Thursday, October 29. The move places the share below its 52-week high while keeping the transaction's strategic contribution and financing discipline at the center of the investment case.

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