What EuroAPI does

EuroAPI, headquartered in Paris and listed on Euronext Paris (ticker EAPI) since May 2022 following its spin-off from Sanofi, is a leading developer, manufacturer, and supplier of Active Pharmaceutical Ingredients (APIs) with approximately 200 products in its portfolio covering anti-infectives, vitamins, prostaglandins, corticoids, hormones, opiates, and small and complex molecules. The company operates six cGMP-compliant manufacturing sites across Europe (France, Germany, Hungary, Italy, with a UK site divested in June 2025) and serves customers in more than 80 countries through a direct enterprise sales model targeting pharmaceutical companies, biotech firms, and innovative drug developers. Its core technology spans API manufacturing and Contract Development and Manufacturing Organization (CDMO) services across small molecules, complex molecules, oligonucleotides, lipid nanoparticles (including cationic lipids for mRNA delivery), and microbial fermentation, supported by approximately 330 scientists and state-of-the-art large-scale chromatography purification equipment.

EuroAPI generates revenue through two streams: API Solutions (commercial sale of ~200 catalog APIs) and CDMO Services (custom development and GMP manufacturing for oligonucleotides, lipids, small molecules, microbial fermentation, and particle engineering). The CDMO segment is a strategic priority and is targeted to reach approximately 35% of total net sales by end of 2025. The company maintains a deeply entrenched relationship with Sanofi — its former parent — through a Master Agreement for Development and GMP Manufacturing Services covering ten projects in Sanofi's R&D portfolio and mRNA vaccine platform support. Sanofi remains a major shareholder with approximately 30% ownership and subscribed to a €200M hybrid bond in October 2024 alongside EPIC Bpifrance (12%).

The business is currently executing a portfolio transformation under its FOCUS-27 strategic plan, including €451M revolving credit facility refinancing, divestiture of the Haverhill site to Particle Dynamics in June 2025, and ongoing strategic review of the Brindisi site with a 2027 conclusion target. 2025 net sales consensus stands at €850.6M from five contributing analysts, with management reaffirming a 7-9% EBITDA margin target while guiding to a mid-single-digit revenue decline for 2025.

Name

EuroAPI

Legal name

EUROAPI

Website

https://euroapi.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

EuroAPI is a Paris-listed manufacturer of approximately 200 Active Pharmaceutical Ingredients and CDMO services spanning oligonucleotides, lipid nanoparticles, small molecules, and microbial fermentation, serving pharmaceutical and biotech companies across 80+ countries from six European manufacturing sites.

Ownership category

akta.pro rank

Product category

Active Pharmaceutical Ingredients (API) Manufacturing

NAICS

Pharmaceutical and Medicine Manufacturing (32541), Medicinal and Botanical Manufacturing (325411), Pharmaceutical Preparation Manufacturing (325412)

SIC

Medicinal Chemicals & Botanical Products (2833), Pharmaceutical Preparations (2834)

akta.pro primary industry

Small-Molecule API Commercial Manufacturing (HLAGAHAB)

akta.pro secondary industries

High-Potency API (HPAPI) Development & Manufacturing (HLAGAHAC), mRNA & Nucleic Acid Manufacturing Services (mRNA/saRNA/Plasmid DNA) (HLAGAGAC), Controlled Substances / DEA-Scheduled API Manufacturing (HLAGAHAD), Small-Molecule CMC Documentation & Regulatory Support (DMF/CMC) (HLAGAHAM)

Keywords

• Active pharmaceutical ingredients
• Contract development manufacturing
• Oligonucleotide CDMO services
• Lipid nanoparticle manufacturing
• Small molecule synthesis

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. API Solutions: Sale of Active Pharmaceutical Ingredients including approximately 200 products covering anti-infectives, vitamins, prostaglandins, corticoids, hormones, opiates, and small/complex molecules to pharmaceutical companies globally.
2. CDMO Services: Contract Development and Manufacturing Organization services offering custom development and GMP manufacturing for oligonucleotides, lipids, small molecules, microbial fermentation, and particle engineering. Strategic priority expected to reach ~35% of total net sales by end of 2025.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

EuroAPI develops, manufactures, and supplies one of the world's largest portfolios of Active Pharmaceutical Ingredients (APIs), with approximately 200 products covering anti-infectives, vitamins, prostaglandins, corticoids, hormones, opiates, and small and complex molecules, distributed to pharmaceutical companies in 80+ countries. In parallel, the company operates a CDMO (Contract Development and Manufacturing Organization) business offering custom development and GMP manufacturing for oligonucleotides, small molecules, lipid nanoparticles (LNPs) for mRNA delivery, particle engineering/micronization, microbial fermentation (enzymes), prostaglandins, and steroids and hormones. The combined offering serves both catalog API supply and tailored contract manufacturing from preclinical to commercial scale.

Product overview

EuroAPI operates as both an API manufacturer and CDMO (Contract Development and Manufacturing Organization). The API Solutions segment offers approximately 200 active pharmaceutical ingredients across categories including Vitamin B12, Prostaglandins, Corticoids & Hormones, Anti Infectives, Opiates & Controlled Substances, Small and Complex Molecules, Intermediates and Reagents. The CDMO Services segment provides specialized contract manufacturing across multiple technology platforms: Tides (Oligonucleotides), Small Molecules Synthesis, Lipids, Particle Engineering (Micronization), Microbial Fermentation (Enzymes), Prostaglandins, and Steroids and Hormones. These two segments serve distinct customer needs—the API Solutions for standard pharmaceutical ingredient supply and the CDMO for innovative, complex molecule development and manufacturing.

Differentiator

Problem solved

Functional benefit

Products and services

• API Solutions EuroAPI's catalog offering of approximately 200 Active Pharmaceutical Ingredients spanning Vitamin B12, Prostaglandins, Corticoids & Hormones, Anti-Infectives, Opiates & Controlled Substances, Small and Complex Molecules, Intermediates and Reagents, addressing both human and animal health, supplied to pharmaceutical companies in 80+ countries.
• Tides / Oligonucleotide CDMO Contract Development and Manufacturing Organization services for oligonucleotides (Tides), from preclinical through commercial production, including analytical services and GMP manufacturing, leveraging capabilities acquired from BianoGMP.
• Small Molecules Synthesis CDMO Contract development and manufacturing services for small molecule synthesis, leveraging EuroAPI's expertise in complex chemistry and 330 scientists across analytics and regulatory.
• Lipids CDMO Contract development and GMP manufacturing services for lipid nanoparticles (LNPs) and cationic lipids used in mRNA vaccine delivery and therapeutic nucleic acid delivery, with state-of-the-art large-scale chromatography purification equipment at Budapest and Frankfurt sites.
• Particle Engineering CDMO (Micronization) Particle engineering CDMO services including micronization for optimizing Active Pharmaceutical Ingredient physical properties, leveraging specialized equipment at EuroAPI's manufacturing sites.
• Microbial Fermentation CDMO (Enzymes) Contract development and manufacturing services leveraging microbial fermentation technology for enzyme and biologics production.
• Prostaglandins CDMO Contract development and manufacturing services for prostaglandin synthesis and manufacturing, addressing specialized therapeutic applications.
• Steroids and Hormones CDMO Contract development and manufacturing services for steroid and hormone Active Pharmaceutical Ingredients, supporting both human and animal health applications.

Quantifiable outcome

• CDMO activity expected to reach ~35% of total net sales by end of 2025
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered strategic and core.

• Abolis BiotechnologiesstrategicStrategic or Co-development Partner · 24 October 2025Strategic partnership to develop microbial strains for corticosteroid production as part of European IPCEI initiative to enhance pharmaceutical sovereignty. Project supported by up to €140 million from France 2030 via Bpifrance, aiming to reduce Europe's reliance on Asian manufacturers.
• Med4Cure Program PartnersstrategicStrategic or Co-development Partner · 23 October 2025Med4Cure innovation programs launched at Vertolaye site involving multiple startups, academic institutions, and industry partners to develop advanced manufacturing processes for APIs. Supported by European Commission's Health IPCEI initiative and France 2030 to secure supply chains and bolster drug production in Europe.
• SanoficoreStrategic or Co-development Partner · 30 May 2022Expanded collaboration under Master Agreement for Development and GMP Manufacturing Services (DSA) to support Sanofi's mRNA vaccine platform with lipid nanoparticle development. EUROAPI develops and manufactures GMP batches for cationic lipids for Phase I/II clinical trials targeting indications including Flu. Sanofi is also a major shareholder with 30% stake and has provided €200 million hybrid bond financing.
• Sanofi (DSA Agreement)coreStrategic or Co-development Partner · 1 October 2021Master Agreement for Development and GMP Manufacturing Services (DSA) signed October 2021. Engaged in ten projects to develop and/or manufacture new molecular entities in Sanofi's R&D portfolio. Sanofi also subscribed to €200 million hybrid bond and reserved €54 million capacity for five products.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Siegfried Holding: Swiss-listed API manufacturer with comparable small-molecule and complex API portfolio across steroids, controlled substances, and custom manufacturing for pharma customers. Operates similar European manufacturing footprint with overlapping therapeutic categories to EuroAPI.
• Hovione: Portuguese-headquartered CDMO specializing in complex small molecules, particle engineering, and GMP manufacturing — directly overlapping with EuroAPI's Particle Engineering, Small Molecules Synthesis, and complex chemistry CDMO offerings.
• Cambrex (Permira-owned): US/EU-based contract API manufacturer with comparable small-molecule and controlled-substance capabilities. Recently private-equity owned and competing for similar CDMO projects in pre-clinical through commercial stages as EuroAPI.
• Recipharm: Swedish CDMO offering contract development and manufacturing for small-molecule APIs across multiple European sites. Comparable customer base of generic and innovative pharma customers and similar scale of CDMO services to EuroAPI.

Broad incumbents

• Lonza Group: Global CDMO leader offering contract development and manufacturing across small molecules, biologics, and cell & gene therapies. Competes with EuroAPI's CDMO services, particularly in mammalian/cell culture and complex APIs, though significantly larger and more diversified.
• WuXi STA (WuXi AppTec): Chinese-based global CDMO providing small-molecule API and oligonucleotide development/manufacturing at scale. Direct competitor for oligonucleotide CDMO projects and a key Asian low-cost alternative to EuroAPI's CDMO services.
• Catalent (Novo Holdings): Major US/global CDMO recently taken private by Novo Holdings, providing API development, particle engineering, and complex formulation services that overlap with EuroAPI's CDMO portfolio at larger scale and broader scope.
• Patheon (Thermo Fisher Scientific): Part of Thermo Fisher's pharma services division, offering API manufacturing and integrated CDMO services. Competes with EuroAPI for complex API contracts and is substantially larger with broader capabilities.

Regional players

• Divi's Laboratories: Indian API manufacturer and CDMO with strong position in corticosteroids, peptides, and generic APIs — directly competing with EuroAPI in corticoids and complex generics from a low-cost Asian manufacturing base.
• Aurobindo Pharma: Large Indian generic pharmaceutical and API manufacturer with significant presence in anti-infectives, hormones, and small-molecule APIs. Competes with EuroAPI's API Solutions business from a lower-cost manufacturing base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/euroapi

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EuroAPI