EUSA Pharma today announced it has entered into a definitive agreement with SERB Pharmaceuticals for the sale of its critical care business. The agreement represents a strategic milestone for both companies, completing EUSA’s transition into a rapidly growing biopharmaceutical company fully focused on oncology and rare diseases while further extending SERB’s broad portfolio of medicines for rare and life-threatening diseases and confirming the company’s ambition to grow its positioning as a key speciality pharma player covering niche indications. The agreement is subject to customary closing conditions and the companies anticipate completion in Q3 2018.
The transaction includes a portfolio of products, which are marketed across a range of countries, and EUSA’s field-based critical care sales teams in the UK, France, Netherlands, Belgium and Poland. The portfolio is based around COLLATAMP®, which is marketed for the prevention of infection during surgery across Europe and a wide range of countries outside the United States, including South Korea and South Africa.
Lee Morley, EUSA Pharma’s Chief Executive Officer said, “The sale of our critical care business to SERB Pharmaceuticals is a major strategic milestone for EUSA Pharma as we complete our transition into a biopharmaceutical company fully focused on the oncology and rare disease fields. EUSA has made tremendous progress since formingin 2015, and achievedapproval of two new oncology products last year. We plan to build on this momentum as we ramp up the EU roll out of FOTIVDA® in advanced renal cell carcinoma and QARZIBA® in high risk neuroblastoma, as well as preparing the QARZIBA® BLA for filing in the USA later this year. With EUSA driving rapid growth inits oncology franchise, bothorganically andthrough in-licensing, partnering and acquisition, we believe SERB’s specialist hospital focus makes it the ideal home for our critical care business.”
Jeremie Urbain, SERB’s Chairman said, “We are pleased to have reached this agreement with EUSA Pharma as these products are a perfect fit with our Emergency Care and our Niche Specialist Pharmaceuticals franchises. We are highly excited to welcome EUSA’s field-basedcritical care sales teams and believe that their expertise will further support the expansion ofSERBand maximize the potential of our emergency care products portfolio. Thistransaction,alongside the acquisition of THYROSAFE® closed a few weeks ago,confirms the company’s ambition to grow rapidlywith the financial supportofCharterhouse,leveragingSERB’sproven M&A capabilities.We see these acquisitions as a key milestone in SERB’s development and we are determinedto continue to drive value creation through a combination of organic growth and further M&A.”
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EUSA Pharma was advised by Rothschild & Co. SERB was advised by Kronos Advisors.
Date: July 16, 2018
Source: businessinsider