VIVUS Executes on its Strategic Vision with the Closing of its Acquisition of PANCREAZE® and Previously Announced Financing Transaction
VIVUS (VVUS)
Last vivus earnings: 3/3 04:05 pm
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US:NASDAQ Investor Relations:
ir.vivus.com/node/5806
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Source: GlobeNewswire
CAMPBELL, Calif., June 11, 2018 (GLOBE NEWSWIRE) -- VIVUS, Inc. (Nasdaq:VVUS) (the “Company”), a biopharmaceutical company, today announced that it has met the closing conditions, including Hart-Scott-Rodino review, related to the Company’s previously announced acquisition of U.S. and Canadian rights to PANCREAZE® (pancrelipase) Delayed-Release Capsules for the treatment of exocrine pancreatic insufficiency (EPI) from Janssen Pharmaceuticals, Inc. (Janssen) for $135 million. Concurrently, VIVUS completed its previously announced financing agreement with Athyrium Capital Management, L.P. (Athyrium). “The restructuring of a portion of our debt coupled with the acquisition of a cash flow generating asset, PANCREAZE, will move VIVUS towards our goal of becoming an operating profit generating specialty pharmaceutical company. The PANCREAZE transaction fits a well-defined strategy of acquiring assets utilizing VIVUS’ improving operational and financial discipline as a base platform,” sa
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