Fresenius completes EUR 750 million mAbxience acquisition

Fresenius SE & Co. KGaA (ISIN DE000FRE5EN2) completed a significant biopharma acquisition on September 30, 2026, purchasing the remaining 45 percent stake in mAbxience for up to EUR 750 million. The deal includes a contingent payment of EUR 50 million tied to site approvals, securing full ownership of the biosimilars platform for Fresenius Kabi. Fresenius had previously held a 55 percent stake in mAbxience since 2022. The acquisition is expected to boost the company's core earnings per share immediately, though Fresenius stated that its full-year 2026 guidance and 2030 biopharma ambitions remain unchanged. mAbxience generated over EUR 320 million in revenue in 2025 and operates three production facilities in Spain and Latin America.

Fresenius reported strong second-quarter 2026 results, with group revenue increasing 6 percent year-over-year to EUR 5,864 million and EBIT rising 10 percent to EUR 719 million. The EBIT margin expanded by 60 basis points to 12.3 percent. Core EPS grew 14 percent to EUR 0.83, prompting the company to raise its constant-currency full-year 2026 core EPS growth guidance to 10 percent to 15 percent, up from 5 percent to 10 percent.

Analyst support for Fresenius remains strong, with Jefferies maintaining a Buy rating and a EUR 55.00 price target as of October 1, 2026. UBS also kept a Buy rating with a EUR 56.00 target in a report dated September 17, 2026. Despite these positive outlooks, Fresenius stock traded between EUR 43.31 and EUR 43.96 on October 2, 2026, closing at EUR 43.63, down 0.38 percent from the prior close. The stock's 52-week range is EUR 35.11 to EUR 52.96, with a market capitalization of EUR 24.6 billion.

The next key event for investors is the Q3/2026 conference call scheduled for November 4, 2026. The mAbxience acquisition links the company's raised earnings framework to a larger biopharma platform, while the share price continues to trade below its 52-week high.