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BRIEF-Vistin Pharma announces sale of its opioids and CMO business
July 11, 2017 / 10:08 AM / a month ago

BRIEF-Vistin Pharma announces sale of its opioids and CMO business

July 11 (Reuters) - VISTIN PHARMA ASA

* REG-VISTIN PHARMA ASA : VISTIN PHARMA ANNOUNCES THE SALE OF ITS OPIOIDS AND CMO BUSINESS

* ‍TRANSACTION WILL HAVE A POSITIVE NET CASH EFFECT OF NOK 140 - 150 MILLION, BEFORE ANY TRANSACTION COSTS​

* ENTERED A SALES AND PURCHASE AGREEMENT WITH TPI ENTERPRISES LIMITED ("TPE") FOR SALE OF ITS OPIOIDS AND TABLET MANUFACTURING BUSINESS (CMO)

* TPE WILL PAY A CASH CONSIDERATION OF NOK 100 MILLION, AS WELL AS VALUE OF INVENTORY TRANSFERRED AT DATE OF CLOSING

* TRANSACTION IS EXPECTED TO BE CLOSED EARLY IN Q4 OF 2017. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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