Mumbai: Zydus has entered into an agreement to acquire US-based pharma company Assertio Holdings for $166.40 million, the Ahmedabad-based drug maker said in a statement. Assertio is focused on specialty and oncology supportive-care therapies.
"Zydus Worldwide DMCC, a subsidiary of the company has signed a definitive agreement, through its wholly owned acquisition subsidiary Zara Merger Sub Inc, with Assertio Holdings to acquire all outstanding shares of Assertio for $23.50 per share in cash," according to the statement.
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The acquisition provides Zydus with an established US speciality oncology commercial platform, anchored by Assertio's presence in oncology supportive care. Zydus intends to leverage Assertio's focused commercial infrastructure and oncology relationships to build and expand its specialty oncology presence in the US.
Sharvil P Patel, managing director, Zydus Lifesciences, said: "This transaction represents a strategic step in strengthening our specialty and oncology footprint in the US. Assertio brings a focused commercial platform and an approved oncology asset that aligns well with our long-term strategy of building differentiated, durable specialty businesses globally."
The board of Assertio found Zydus offer a "superior" proposal vis-a-vis another bidder Garda Therapeutics. Assertio's portfolio includes Rolvedon (eflapegrastim-xnst), approved as a BLA by USFDA for long-acting G-CSF biologic for prevention of febrile neutropenia in adult cancer patients receiving myelosuppressive chemotherapy. Rolvedon is administered once per chemotherapy cycle in oncology supportive-care market.
"Zydus Worldwide DMCC, a subsidiary of the company has signed a definitive agreement, through its wholly owned acquisition subsidiary Zara Merger Sub Inc, with Assertio Holdings to acquire all outstanding shares of Assertio for $23.50 per share in cash," according to the statement.
Also Read: Eli Lilly brings monthly Alzheimer's therapy donanemab to India at ₹91,688 per vial
The acquisition provides Zydus with an established US speciality oncology commercial platform, anchored by Assertio's presence in oncology supportive care. Zydus intends to leverage Assertio's focused commercial infrastructure and oncology relationships to build and expand its specialty oncology presence in the US.
Sharvil P Patel, managing director, Zydus Lifesciences, said: "This transaction represents a strategic step in strengthening our specialty and oncology footprint in the US. Assertio brings a focused commercial platform and an approved oncology asset that aligns well with our long-term strategy of building differentiated, durable specialty businesses globally."
The board of Assertio found Zydus offer a "superior" proposal vis-a-vis another bidder Garda Therapeutics. Assertio's portfolio includes Rolvedon (eflapegrastim-xnst), approved as a BLA by USFDA for long-acting G-CSF biologic for prevention of febrile neutropenia in adult cancer patients receiving myelosuppressive chemotherapy. Rolvedon is administered once per chemotherapy cycle in oncology supportive-care market.
