Private equity firm Permira has officially launched the sale of German pharmaceutical company Neuraxpharm, with lenders preparing financing packages of up to €1.5bn ($1.8bn) for prospective buyers, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revealing that efferies and JPMorgan are advising on the process, which has a deadline for non-binding offers set for 5 February. Permira has been considering a sale of Neuraxpharm, which specialises in treatments for central nervous system disorders, since last year, seeking a total price in the range of €3bn to €4bn.
Banks and private credit providers are competing to offer senior and potentially junior leveraged debt to support the transaction, with loan packages equating to roughly 5.5x–8x EBITDA. Neuraxpharm’s EBITDA is projected to rise to around €230 this year, supported by Briumvi, a recently approved monoclonal antibody for relapsing multiple sclerosis in the US and EU.
The deal is expected to be one of the larger leveraged finance-backed transactions of 2026, following a strong second half of 2025 for Wall Street banks in M&A financing.
According to Bloomberg, Permira, Jefferies, and JPMorgan declined to comment.
