Aralez lines up $250 million deals to sell off assets
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.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze