GTCR Completes Ovation Pharma Sale
H. Lundbeck AS has completed its acquisition of Ovation Pharmaceuticals Inc. for up to $900 million in cash. The deal included a $600 million up-front payment, with the remaining $300 million contingent on Ovation reaching certain regulatory milestones within one year of closing. Ovation Pharmaceuticals is a Deerfield, Ill.-based company formed in 2000, to develop specialty compounds for the US market and for niche indications with high unmet medical needs. GTCR-Golder Rauner acquired a majority stake in Ovation in 2002 for approximately $150 million.
20 March 2009•3 mins read
