Euroapi: new collapse!







Photo credit © Euroapi

(Boursier.com) — An announcement that was clearly poorly received. In financial difficulties, Euroapi announced last night that it had chosen to be accompanied by an ad hoc agent in the discussions begun in February concerning the medium and long-term financing of its Focus-27 strategic transformation project.

The ad hoc mandate is an amicable procedure launched at the initiative of Euroapi and carried out in a confidential and legally secure framework. The group proactively called on this independent third party in order to accelerate discussions and converge towards a solution likely to satisfy the interests of all stakeholders. Substantial progress has been made in recent weeks on the financing of the Focus-27 plan, the manufacturer of active ingredients for the pharmaceutical industry wanted to reassure.

JP Morgan affirms that Euroapi remains sufficiently funded for 2024, recalling that the discussion with the main players aims to secure financing in the medium and long term. JPM also notes that the process was initiated by the company and not the creditors to expedite discussions… “While we expect the stock to significantly underperform due to uncertainty over financing , the detailed update of FOCUS-27 from Euroapi, still expected before the end of this month, could finally provide some assurance on its medium and long-term financing plan and its prospects”, underlines the bank.

Since its split from Sanofi, the company has accumulated setbacks. The latest, the discovery of quality control failures at the Brindisi site of the Italian subsidiary, led to a suspension of the 2024 outlook.

The stock now plunges 16% to 3.26 euros at the end of the week in Paris.


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