Aralez closes $150 mln sale of Vimovo royalties, local assets
Aralez Pharmaceuticals Inc (TSX: ARZ) has wrapped up the sale of its Vimovo royalties and operations in Canada to Nuvo Pharmaceuticals Inc (TSX: NRI) for about $150 million (US$110 million). The deal, announced in August 2018, is part of the company's plan to sell its primary assets for about $326 million (US$240 million) and wind down operations. Nuvo, a Toronto-based healthcare business, completed the acquisition with financing supplied by Deerfield Management, a U.S. healthcare investor. Aralez launched in 2016 through a merger backed with US$350 million in Deerfield-led commitments.
2 January 2019•3 mins read
