Merus Labs acquires four products from Sanofi for €22.5M

• Merus Labs International (NASDAQ:MSLI) inks a deal with Sanofi (NASDAQ:SNY) to acquire the rights to four products in France that generate ~€6.3M in sales. Under the terms of the agreement, Sanofi will receive a one-time payment of €22.5M. Merus will fund the transaction with 1/3 debt and 2/3 equity. The deal should close in mid-March.
• The four products are: Surgestone - women's health; Provames - hormone replacement therapy for women; Speciafoldine - macrocytic anemia and Tredemine - tapeworm.
• Merus raises its guidance for non-GAAP EBITDA for its fiscal year ending September 30, 2016 to $47M - 50M from $43M - 46M.