Connect with us

Press Releases

Osmotica Pharmaceuticals Announces Conclusion of Strategic Process with Agreement for the Sale of Legacy Business to Alora Pharmaceuticals

Osmotica will receive a $110 million upfront cash payment, with the potential to receive up to $60 million in additional milestone payments.

mm

Published

on

(PRESS RELEASE) BRIDGEWATER, N.J. — Osmotica Pharmaceuticals, plc (Nasdaq: OSMT) (“Osmotica” or the “Company”), a fully integrated biopharmaceutical company, announced that it has entered into a definitive Purchase and Sale Agreement with Alora Pharmaceuticals, LLC (“Alora”) pursuant to which Alora will acquire Osmotica’s portfolio of legacy products and its Marietta, Georgia manufacturing facility, for up to $170 million.

“Today’s announcement is a meaningful step in the transformation of our business and aligns with our strategy of building a portfolio of growth assets in ocular aesthetics,” said Brian Markison, CEO of Osmotica Pharmaceuticals. “The legacy business has been an important part of our evolution, and we would like to recognize the excellent performance of our employees as they have remained focused throughout this process. The proceeds generated by the sale will be used to retire a substantial portion of our outstanding indebtedness and position us to accelerate the commercialization efforts of our flagship product, UPNEEQ. Since the introduction of UPNEEQ, our confidence in the brand has continued to grow, and we believe that this is the right time to further focus on this tremendous asset.

11 Images That Show Why Tradewinds Eye Care Optical in Davidson, NC, Was Named One of America’s Finest Optical Retailers
Photo Gallery

11 Images That Show Why Tradewinds Eye Care Optical in Davidson, NC, Was Named One of America’s Finest Optical Retailers

Celebrity Eyewear Pics Featuring Paris Hilton, Christina Aguilera, and Johnny Depp
Photo Gallery

Celebrity Eyewear Pics Featuring Paris Hilton, Christina Aguilera, and Johnny Depp

9 Eyecare Patient Encounters That Didn’t Quite Make Sense
Photo Gallery

9 Eyecare Patient Encounters That Didn’t Quite Make Sense

“Alora Pharmaceuticals is an excellent home for our legacy business given its diverse portfolio and dedication to high-quality branded and generic products,” added Markison.

“Alora Pharmaceuticals is excited to welcome the Osmotica team to our growing company. This acquisition will immediately bolster our platform of generic and branded product lines and will contribute to the long-term growth of our contract research and development and manufacturing capabilities,” said Art Deas, CEO of Alora.

The Boards of Directors of both Osmotica and Alora have approved the transaction, which is expected to close in the third quarter of 2021.

Barclays Bank PLC and Jefferies LLC are acting as financial advisors, and Ropes & Gray LLP is acting as legal advisor to Osmotica. TAP Advisors is acting as exclusive financial advisor, and Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Alora on the transaction.

Advertisement

SPONSORED VIDEO

🦸 Opticians Are Your Optical Selling Superheroes

🏆 Save time, increase capture rate, maximize your EHR data and website with a seamless optical eCommerce plug-in that keeps patients buying from YOU 🎯 Now through August 31st when you complete a 15 min demo receive a $45 Target® gift card. Book your demo here.

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Instagram

Most Popular