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Flamel buys North Carolina-based specialty pharma firm for up to $32.75M

Feb. 08, 2016 4:36 PM ETAvadel Pharmaceuticals plc (AVDL) StockBy: Douglas W. House, SA News Editor
  • Flamel Technologies (FLML) acquires Charlotte, NC-based FSC Holdings, LLC, a specialty pharmaceutical firm focused on serving pediatric patients. It markets three products: three drugs for the treatment of infection, allergy and gastroesophageal disease and and medical device for the administration of aerosolized medication using pressurized Metered Dose Inhalers for the treatment of asthma.
  • Flamel increases its 2016 revenue guidance to $110M - 130M, inclusive of FSC's $10M - 15M.
  • Under the terms of the deal, Flamel will pay $20.25M over five years to former FSC owner Deerfield CSF, LLC, specifically, $1.05M per year for five years and a final payment of $15.0M in January 2021. In addition, it will pay Deerfield a 15% royalty per year on net sales of current FSC products, up to $12.5M for a period not to exceed 10 years.
  • Flamel will host a conference call at 5:30 pm ET to discuss the transaction.

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