Aralez inks 'stalking horse' deals for asset sales
Confirming a recent tentative announcement, Aralez Pharmaceuticals (Nasdaq: ARLZ) says it has now signed definitive agreements for asset sales to with two separate’ stalking-horse’ purchasers.
It has reached an agreement to sell its Vimovo (naproxen/esomeprazole magnesium) royalties and Canadian operations to Nuvo Pharmaceuticals in a transaction valued at $110 million, subject to customary adjustments.
The Transaction would also include the worldwide rights and royalties from licensees for Yosprala(aspirin and omeprazole) and global, ex-US product rights to MT400 (to be sold as Suvexx in Canada once registered and currently commercialized in the USA as Treximet).
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