Investment research firm Edison has raised its valuation on German specialty pharma company Paion (ETR: PA8) but decreased the earnings per share (EPS) assessment after the out-licensing of certain rights to Italian drugmaker Cosmo Pharmaceuticals (SIX: COPN).
Figures quoted in the report reflect the impact on Paion’s value of the sale of the US rights to the short-acting anaesthetic remimazolam, the company’s lead product, which is undergoing Phase III trials in the USA.
The deal with Cosmo brings Paion 20 million euros ($22.2 million) of cash, including a 9.6 million euros share purchase, 42.5 million euros in potential milestones and a 20% to 25% royalty.
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
7 day trial access
Become a subscriber
Or £77 per month
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
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze