Aralez lines up $250 million deals to sell off assets

10 August 2018

Aralez Pharmaceuticals (Nasdaq: ARLZ) has announced it will enter into purchase agreements with two so-called ‘stalking-horse purchasers’ to sell its main business.

This method of selling assets allows a distressed company to avoid receiving excessively low bids as it sells off its assets.

The firm has agreed to a $110 million offer from Nuvo Pharmaceuticals for royalties from Vimovo (naproxen/esomeprazole magnesium) and its Canadian operations, and an offer of $140 million from Deerfield Management Company for its Toprol-XL (metoprolol) franchise.

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