Nuvo PharmaceuticalsWednesday, 16 January 2019
ByrneWallace advise Nuvo Pharmaceuticals (Ireland) DAC (Nuvo Ireland) in relation to its acquisition of a number of pharmaceutical assets, as part of the completion by Nuvo Pharmaceuticals Inc. (Nuvo) of the acquisition of Aralez Pharmaceuticals Inc. (Aralez) for the aggregate purchase price of US$110 million financed by Deerfield Management Company, L.P. (Deerfield)
Nuvo, a globally focused Canadian healthcare company with a portfolio of commercial products and pharmaceutical manufacturing capabilities led by CEO Jesse Ledger, has announced the completion of the acquisition of over 20 revenue-generating products from Aralez, a specialty pharmaceutical company with operations in Canada and Ireland. Nuvo established its Irish subsidiary to act as the springboard to further develop Nuvo’s international business. The acquisition financing was provided by Deerfield, a leading, global healthcare specialised investor. The aggregate purchase price paid by Nuvo to Aralez at closing was US$110 million (less a US$4.4 million deposit previously paid and subject to certain working capital and indebtedness adjustments). The transaction was approved by the Courts supervising Aralez’s restructuring proceeds in both Canada and the United States.
The ByrneWallace team who advised on this transaction was led by Colin Sainsbury, Partner and Head of Life Sciences and included Catherine Dowling, Senior Associate, as well as Mark Kavanagh, Partner and Head of Banking and Finance, and Triona Ryan, Senior Associate from the ByrneWallace Banking Team.
Click here for more information on this transaction and to view Nuvo’s press release.