Aralez Pharmaceuticals has entered two purchase agreements to sell its main operating businesses, Vimovo and Toprol-XL, for $250m.
The two agreements include the sale of the company’s royalties and Canadian operations of Vimovo to Nuvo Pharmaceuticals for $110m, and an agreement to sell its Toprol-XL franchise to Deerfield Management for $140m.
The divestment decision was based on a strategic review of the company to improve its financial profile.
Based in Canada, Aralez Pharmaceuticals is engaged in the manufacture of pharmaceutical products in various specialist areas, while Nuvo Pharmaceuticals is a healthcare business also based in Canada.
The transaction is subject to regulatory approvals and other customary closing conditions.
US-based over-the-counter pharmaceuticals manufacturer Perrigo intends to separate its Prescription Pharmaceuticals (Rx) business, following a strategic review of its portfolio.
The Rx business of Perrigo serves patients and health systems with topical medications at affordable prices.
The separation of Rx business will enable Perrigo to capitalise its generic pharmaceutical products portfolio and focus on expanding its consumer business.
The transaction is expected to be completed in the second half of 2019.
Barclay has been appointed as the company’s lead financial adviser for the transaction.
Takeda will obtain US commercialisation rights for the first four products that reach an investigational new drug application (NDA) stage, while Ambys will retain the full US rights of the drugs, as part of the agreement.
The strategic collaboration is part of Takeda ’s strategy to focus on the development of novel solutions for unmet medical needs in the field of gastroenterology and gene therapy platforms.
Takeda has committed $100m and will participate in the series A financing round under the transaction.
The partnership will enable Takeda to deliver regenerative medicines for people suffering with serious liver diseases.
Based in the US, Catalent is a drug delivery technology company engaged in the development of biologics and consumer health products, while Juniper, also based in the US, specialises in the development of therapeutics for unmet medical needs.
The acquisition will enable Catalent to expand and strengthen its formulation development and clinical-scale oral dose manufacturing offerings. It will also be a complementary addition to the company’s integrated global clinical and commercial supply network.