M&As this week: Livzon Pharmaceutical Group, PLx Pharma, Medis Laboratories
Chinese company Livzon Pharmaceutical Group has reached an agreement to sell its Pharma Firm.
The consideration for the acquisition is fixed at ¥4.55bn ($661.1m).
Speciality pharmaceutical company PLx Pharma has merged with Dipexium Pharmaceuticals.
The combined entity will operate under the name PLx Pharma and will continue to be led by PLx’s management team.
The issued and outstanding shares of common stock of Dipexium Pharmaceuticals saw a reverse stock split at the ratio of one-for-eight, as part of the merger.
Tunisian pharmaceutical company Medis Laboratories has completed the acquisition of Sanofi’s subsidiary, Winthrop Pharma Senegal (Winthrop Pharma Tunisie).
The target company is also a pharmaceutical company based in Tunisia.
Through the acquisition, the acquirer company intends to develop the business in Francophone Sub-Saharan Africa from a Senegalese base.
Japanese generic drug manufacturer Sawai Pharmaceutical has reached an agreement with Acovato to acquire the generic pharmaceutical business of its subsidiary, Upsher-Smith Laboratories.
The purchase consideration for the acquisition is agreed to be $1.05bn, which Sawai plans to fund through bank loans and cash in hand.