Edition:
United Kingdom

Strongbridge Biopharma PLC Enters Into Agreement For Novo Nordisk To Acquire The U.S. And Canadian Rights To Macrilen


Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Strongbridge Biopharma plc ::STRONGBRIDGE BIOPHARMA PLC ENTERS INTO AGREEMENT FOR NOVO NORDISK TO ACQUIRE THE U.S. AND CANADIAN RIGHTS TO MACRILEN™ (MACIMORELIN).STRONGBRIDGE BIOPHARMA PLC - PURCHASE PRICE OF $7.00 PER SHARE.STRONGBRIDGE BIOPHARMA PLC - NOVO NORDISK TO PURCHASE APPROXIMATELY 5.2 MILLION ORDINARY SHARES OF STRONGBRIDGE BIOPHARMA PLC AT PURCHASE PRICE OF $7.00 PER SHARE.STRONGBRIDGE BIOPHARMA PLC - STRONGBRIDGE WILL RECEIVE AN UPFRONT PAYMENT OF $145 MILLION FROM NOVO NORDISK FOR U.S. AND CANADIAN RIGHTS TO MACRILEN.STRONGBRIDGE BIOPHARMA PLC - STRONGBRIDGE WILL RECEIVE TIERED ROYALTIES RELATED TO SALES OF MACRILEN THROUGH 2027.STRONGBRIDGE BIOPHARMA PLC - NOVO NORDISK TO FUND STRONGBRIDGE'S RARE ENDOCRINE COMMERCIAL FIELD ORGANIZATION FOR MACRILEN FOR UP TO THREE YEARS.STRONGBRIDGE BIOPHARMA PLC - TRANSACTION WILL RESULT IN GROSS PROCEEDS OF $36.7 MILLION.STRONGBRIDGE BIOPHARMA - CO'S CURRENT MACRILEN FIELD ORGANIZATION TO CONTINUE TO PROMOTE PRODUCT IN U.S. UNDER A 3-YEAR AGREEMENT WITH NOVO. 

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