Oct. 14, 2014, 10:03 AM
- Retrophin (RTRX +1.4%) divests its ketamine, Syntocinon Nasal Spray (oxytocin) and Vecamyl (mecamylamine HCI tablets) assets to Turing Pharmaceuticals. Under the terms of the agreement, Turing will pay Retrophin an upfront payment of $3M and assume all liabilities and future milestone payments related to the products. The divestment should close in Q1 2015.
- As part of the agreement, Retrophin founder Martin Shkreli resigns from the firm's board of directors and his employment is terminated effective immediately.
Jul. 28, 2014, 7:09 AM
- Retrophin (NASDAQ:RTRX) submits a proposal to the BOD of Clinuvel Pharmaceuticals to acquire the company in an all-stock deal for 0.175 shares of RTRX per share of Clinuvel or for A$2.17 per share in cash. RTRX currently owns 4.88% of the company.
- Clinuvel develops drugs for a range of severe skin disorders.
Feb. 13, 2014, 9:30 AM
- Retrophin (RTRX) zooms 45% after announcing an acquisition and providing revenue guidance for the first time.
- Retrophin has agreed to buy privately held Manchester Pharmaceuticals for $62.5M, including $29.5M upfront plus royalties based on product sales.
- Manchester makes two treatments that have been approved by the FDA: Chenodal for the treatment of gallstones and Vecamyl for hypertension.
- Retrophin expects 2014 revenues of $10-12M and 2015 sales of $19-21M. (PR)
Sep. 25, 2013, 4:17 PM
Sep. 18, 2013, 4:16 PM
- Retrophin (RTRX.PK) floats a proposal to acquire Transcept Pharmaceuticals (TSPT) for $4/share.
- The move comes after TSPT's board adpoted a poison pill and rejected an offer of $3.50/share last week.
- Retrophin says the deal "represents an attractive premium to TSPT's trading performance, and ... offers a compelling opportunity for TSPT's stockholders."
- Retrophin CEO Martin Shkreli goes on to call TSPT's acquisition strategy "risky and controversial." (PR)
- TSPT +8% AH on top of 8% during the regular session.
Retrophin, Inc. operates as a development stage company, which develops pharmaceutical products for the treatment of rare diseases. It currently focuses on the discovery and development of drugs for the treatment of debilitating and often life-threatening diseases for which there are currently... More
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