Charles Russell Speechlys advises Duke Royalty on royalty financing agreement with Fairmed Healthcare AG
Duke Royalty is the leading provider of royalty finance to companies in the UK and Europe. The new royalty financing agreement is with Fairmed Healthcare AG, a Swiss-based provider of high quality generic prescription medicines, over-the-counter pharmaceuticals, dermocosmetics and dietary supplements.
The €10 million royalty financing agreement is secured by a comprehensive security package for 30 years. It will enable Fairmed's management team to take their business plan to the next level and build on the excellent reputation of the firm in the EU.
Danny Sullivan, Partner, Charles Russell Speechlys commented: “We are delighted to have been able to assist Duke Royalty with this new royalty financing agreement. This is the latest of a number of successful projects that we have worked with the Duke Royalty team on and we look forward to helping them continue to deploy capital and provide innovative alternative financing options for their borrowers.”
Neil Johnson, CEO of Duke Royalty, said: “We are pleased to have successfully completed another transaction with CRS. The team at CRS is our preferred legal partner, its multi-discipline expertise and international reach help us with complex transactions like Fairmed. With CRS we get good advice in a timely manner and its service is outstanding.”
Banking & Finance Legal Director Susan Mitchell, assisted by Corporate Partner Paul Arathoon, Banking & Finance Partner Danny Sullivan and Swiss-based Partner Olivier Cavadini, led the Charles Russell Speechlys team. Noerr advised Duke Royalty on German law aspects.