Fresenius has locked in full ownership of mAbxience. The company signed a deal to buy the remaining 45 percent stake for up to EUR 750 million. This brings mAbxience entirely under Fresenius Kabi. The goal is clear. Fresenius wants to run a fully integrated biopharma business, from research to sales.
This is not Fresenius's first step with mAbxience. Back in 2022, Fresenius bought a 55 percent majority. That set the stage for this full buyout. The latest deal is a key part of the #FutureFresenius strategy. The company is betting on vertical integration to reshape its biopharma operations and drive growth. According to an official Fresenius Kabi announcement, the transaction was signed and closed on September 30, 2026. Fresenius now owns 100 percent of mAbxience.
Unlike many large-scale biopharma mergers and acquisitions, the completion of this deal did not require regulatory approvals, streamlining the process for both parties.
Legal strategy and deal structure
Linklaters handled the legal work for both the original and current deals. The team, led by Ralph Wollburg, included partners and associates from corporate, M&A, TMT IP, antitrust, and litigation. They covered every legal angle. Linklaters continues to advise Fresenius on company law and international deals. The aim is to protect Fresenius at every step.
The deal structure brings mAbxience fully into Fresenius Kabi. This lets Fresenius control the whole biopharma value chain. The approach follows recent industry moves. For example, the Zymeworks buyout of Theravance used consolidation to boost commercial and operational strength. The mAbxience deal includes a conditional EUR 50 million payment. This depends on certain site approvals, as detailed in the Reuters financial review.
Strategic implications for Fresenius
Full ownership of mAbxience changes how Fresenius operates. The company can now streamline everything from R&D to market launch. This could mean faster pipelines and tighter control. The deal is capped at EUR 750 million, or about USD 849.8 million at the reported exchange rate. Fresenius is making a calculated investment in long-term biopharma strength. This is not a gamble.
Fresenius took its time. First, it secured a majority. Now, it has full control. The step-by-step approach shows discipline in a sector where rushed deals often fail. Linklaters's cross-practice team handled the legal complexity. The #FutureFresenius plan is in motion. This deal shows Fresenius is serious about building a strong, end-to-end biopharma business. The company is betting on legal expertise and operational integration to stay ahead in a market that keeps consolidating.
Fresenius CEO Michael Sen described the acquisition as the next milestone in building a leading, vertically integrated biopharma business at scale, emphasizing the company's ambition to strengthen its platform from research to commercialisation.
