Mar. 9, 2015, 7:59 AM
- Malvern, PA-based Recro Pharma (NASDAQ:REPH) acquires certain assets from Alkermes plc (NASDAQ:ALKS) including worldwide rights to an injectable version of meloxicam, a Phase 3-ready, long-acting COX-2 non-steroidal anti-inflammatory drug (NSAID) for moderate-to-severe pain, and an 85,000 sq. ft. contract manufacturing facility in Gainesville, GA.
- Under the terms of the agreement, Recro will pay Alkermes $50M at closing and up to an additional $120M in various milestones. Alkermes will also receive a seven-year warrant to purchase an aggregate of 350,000 shares of Recro stock. The $50M payment will be funded via a five-year secured term loan with OrbiMed at an interest rate of LIBOR +14%. In conjunction with the loan, Recro grants OrbiMed warrants to purchase 3% of Recro's outstanding common stock.
- Recro will host a conference call this morning at 8:00 am ET to discuss the transaction.
Sep. 24, 2014, 10:01 AM
- Alkermes plc (ALKS +0.4%), through its subsidiary Alkermes, Inc., will reap some financial benefits from Acorda's (ACOR +17.3%) $525M acquisition of Civitas. It will receive $30M for the sale of certain commercial-scale pulmonary manufacturing equipment used by Civitas and ~$29M for its ~6% stake in the privately-held firm.
- The payments will not impact Alkermes' non-GAAP net income.
Aug. 5, 2013, 1:00 PM
- Perrigo's (PRGO) recent deal for Elan has investors all jazzed up about Irish-domiciled healthcare companies.
- The allure of a 12.5% corporate tax rate could mean more M&A activity in the not-so-distant future for "anything with an Irish corporate tax structure," one analyst tells Bloomberg.
- Some of the names being tossed about: Jazz Pharmaceuticals (JAZZ +3.2%) and Alkermes (ALKS +3.8%).
May 9, 2011, 5:06 AM