Deerfield helps Aralez buy rights to blood pressure drug for $175 mln
Aralez Pharmaceuticals Inc (TSX: ARZ) has acquired the U.S. rights to Toprol-XL, a blood pressure medication, and its authorized generic from AstraZeneca for $175 million. As part of the deal, AstraZeneca will continue to manufacture and supply the drug for at least ten years. The deal was funded through a senior secured debt facility with Deerfield Management, a U.S. healthcare investment firm. Deerfield also agreed to provide Aralez with up to $250 million for future acquisitions. Aralez, a Toronto-based specialty pharmaceutical company, was created this year in a merger funded by a Deerfield-led consortium.
31 October 2016•9 mins read
