ADVANZ PHARMA has announced a deal to acquire Correvio Pharma at $0.42 per share and to pay off outstanding debt for a total of $76M.
“Correvio’s niche portfolio, consisting of an established brand, and two growing, patent-protected brands, plus a pipeline of potential product launches, are highly complementary to our current priorities and future focus. This is a transformative transaction that we are very excited about, creating what we believe is a leading global platform with advanced commercial capabilities in Western Europe.”
Graeme Duncan - ADVANZ PHARMA CEO
ADVANZ expects the synergies generated by the combined company and top-line growth to make Correvio profitable on a pro forma basis in 2020.