Nuvo Pharmaceuticals, a globally focused, healthcare company with a portfolio of commercial products and pharmaceutical manufacturing capabilities, signed definitive, binding purchase agreements with Aralez Pharmaceuticals to acquire a portfolio of more than 20 revenue-generating products, as well as the associated personnel and infrastructure to continue the products’ management and growth (the Proposed Transaction or the Transaction).
Upon closing of the Proposed Transaction, Nuvo would pay Aralez $110 million in cash, which Nuvo would satisfy through funding provided by certain funds managed by Deerfield Management Company.
Assuming completion of the Transaction, Nuvo would acquire Aralez’s Canadian specialty-pharmaceutical business, which was formerly known as Tribute Pharmaceuticals Canada. This is a growing business that includes Cambia, Blexten, Suvexx (sold as Treximet in the U.S.), as well as the Canadian distribution rights to Resultz, and would create a platform for Nuvo to acquire and launch additional commercial products in Canada. The transaction would also include the worldwide rights and royalties from licensees for Vimovo, Yosprala, and global, ex-U.S. product rights to MT400 (to be sold as Suvexx in Canada once registered and currently commercialized in the U.S. as Treximet).
Jesse Ledger, Nuvo’s president & CEO commented, “This transaction contains all of the elements we have been looking for: immediate commercial scale from a diverse product portfolio, generating positive cash flow; a highly effective commercial organization with a track record of success, providing a platform to add new business development opportunities; support from a premier healthcare-focused financial sponsor through the participation of Deerfield; and most importantly, the transaction will accelerate our growth trajectory by substantially enhancing our top and bottom-line.” Mr. Ledger continued, “Nuvo will be preserving the jobs of over 40 Canadian-based employees and we will ensure that patients and healthcare practitioners across Canada continue to receive access to and support in relation to important medicines like Blexten and Cambia.”
(Source: Nuvo Pharmaceuticals Inc.)
