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.
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