BC Partners, a leading European investment firm, and Bpifrance, the French public investment bank, today announce the completion of the acquisition from Servier of Biogaran, a major player in the French pharmaceutical industry and one of France’s major generic medicines companies.
The closing of the transaction marks a new phase of development for Biogaran, supported by shareholders committed to its long-term growth, its French footprint, and its essential role in the French healthcare system.
The completion of the transaction follows the conclusion of the information and consultation process with Biogaran’s Social and Economic Committee (CSE), which issued a favourable opinion on 27 October 2025, and the receipt of all required customary regulatory approvals. These include European regulatory clearances, as well as the authorisation under the French foreign investment control regime (FDI screening) by the French State.
Commitments to France
Biogaran will continue to operate in line with its current business model and will maintain its strong commitment to patients, healthcare professionals, industrial and commercial partners, and public authorities.
BC Partners has made several commitments to the French authorities, including maintaining the company’s headquarters and operations in France, safeguarding jobs, preserving its subcontracting model, and ensuring industrial, logistical, and commercial continuity for the patients and its partners.
Bpifrance’s support as a significant minority shareholder and board member further reinforces Biogaran’s long-term anchoring in France and reflects the strategic importance of the company within the national healthcare ecosystem.
New leadership
With the completion of the acquisition, Erick Roche will be appointed Chief Executive Officer of Biogaran, effective by the end of March 2026.
Erick Roche has deep expertise in the sector and knows Biogaran incredibly well, having previously served as the company’s CEO for 15 years. He returns with the ambition to build on Biogaran’s strong foundations, support its team of 270 employees, and accelerate the company’s development in the coming years.
Commenting on his appointment, Erick Roche, future Chief Executive Officer of Biogaran, said:
“Biogaran has a unique position in the French healthcare ecosystem and a strong track record of serving patients and healthcare professionals. I am honoured to return to the company at such an important moment. With the support of BC Partners and Bpifrance, we will build on our strengths, identify new growth drivers, and continue to contribute to the sustainability of the French healthcare system over the long term.”
With its strong expertise in the pharmaceutical sector, deep operational capabilities, and near forty-year history in France, BC Partners is committed to building on the company’s position as an important provider of generic pharmaceuticals to the French market, whilst helping to fuel further expansion in biosimilars, which have been identified as major new cost-saving drivers for the French healthcare system, and consumer healthcare products.
Cédric Dubourdieu, Partner and Head of France at BC Partners, said:
“Biogaran is a strategic French healthcare player with an essential mission. BC Partners is committed to supporting the company for the long term — reinforcing its leadership in generics, accelerating development opportunities, and investing in the next stage of growth, while preserving the foundations that make Biogaran a trusted partner across the healthcare ecosystem.
We have great confidence in Erick Roche’s leadership, deep knowledge of the company, and ability to execute Biogaran’s strategy and look forward to working closely with him and the management team to drive the business forwards.”
Nicolas Dufourcq, CEO of Bpifrance said:
“We are delighted and proud to support Biogaran and its management team as it becomes an independent French champion. Biogaran is a key player in our healthcare sovereignty; alongside BC Partners, we will contribute to its sustainable long-term development while preserving its French heritage – both of which are essential to ensure the resilience and strategic autonomy of the healthcare sector in France and Europe.”
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About BC Partners
BC Partners is a leading investment firm with approximately €35 billion in assets under management across private equity, private debt and real estate strategies. Founded in 1986, BC Partners has been an active participant in the European buyout market for forty years. Today, BC Partners’ integrated transatlantic investment teams operate from offices in Europe and North America and are aligned with our four key sectors: TMT, Healthcare, Services & Industrials, and Food. Since its inception, BC Partners has made over 130 private equity investments and is currently investing its twelfth private equity buyout fund.
The firm opened its Paris office in 1987 and has since developed into a trusted partner for local entrepreneurs, founders, and management teams. Today, BC Partners is chaired by a French partner, Raymond Svider, and is supported by an investment team with a strong and active presence in France, including Partners Cédric Dubourdieu and Benjamin Dupuy. Since its inception, BC Partners has invested more than €4 billion across France and the Benelux region, including its recent investment in France’s Havea (2022), the leading European natural healthcare player. BC Partners has a strong track record of partnering with French companies to deliver growth across critical sectors such as Telecoms and Healthcare, as well high-profile sectors such as Consumer and Business Services.
About Bpifrance
Equity investments are carried out by Bpifrance Investissement. Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…). For more information, please visit: www.Bpifrance.fr – https://presse.bpifrance.fr / Follow us on X: @Bpifrance – @BpifrancePresse
About Biogaran
A pioneer in generic medicines in France, founded in 1996, Biogaran now covers a wide range of conditions, from everyday ailments to more serious diseases. With more than 1,070 medicines and services designed to promote compliance, Biogaran plays a major role in the health of the French population. Biogaran’s statutory net turnover amounts to €1.122 billion. Over the last 12 months, Biogaran has sold 357 million boxes of medicines in France. This represents more than one in eight boxes of medicines in France.
