Specialty pharmaceutical company Assertio Holdings and biopharmaceutical company Spectrum Pharmaceuticals have received approval from their stockholders for the proposed all-stock and contingent value rights (CVR) transaction. The acquisition aims to create new growth opportunities and is expected to be accretive to Assertio’s stockholders in 2024. The transaction is set to close in the coming days.
Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT), a specialty pharmaceutical company offering differentiated products to patients, today announced that its stockholders and the stockholders of Spectrum Pharmaceuticals, Inc. (“Spectrum”) (Nasdaq: SPPI), a biopharmaceutical company focused on novel and targeted oncology, have each approved the proposed definitive agreement pursuant to which Assertio will acquire Spectrum in an all-stock and contingent value rights (CVR) transaction.
“We are pleased to announce the positive voting results of each meeting and look forward to closing the transaction in the coming days,” said Dan Peisert, President and Chief Executive Officer of Assertio. “We believe this transaction provides extensive new growth opportunities and will be accretive to our stockholders in 2024. We plan to provide updated guidance on our second quarter results call, scheduled for August 3.”
Source: BioSpace
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