Assertio Therapeutics Announces Sale of Gralise® for Total Transaction Value of $127.5 Million
Assertio Holdings, Inc. (ASRT)
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Source: GlobeNewswire
LAKE FOREST, Ill., Dec. 12, 2019 (GLOBE NEWSWIRE) -- Assertio Therapeutics, Inc. (“Assertio”) (NASDAQ: ASRT), today announced it has entered into an agreement with Alvogen, a global privately held pharmaceutical company, under which Alvogen will acquire and assume all responsibilities associated with the product Gralise® (gabapentin). The agreement is expected to close in early January 2020, subject to regulatory approval. Under the terms of the agreement, Alvogen will pay Assertio a total value of $127.5 million. This includes $75 million in cash upon closing and the balance payable in the form of a royalty on the first $70 million in Gralise® net sales. Both companies expect the majority of the royalties to be paid in the first calendar year. “This transaction continues the transformation of Assertio, allows us to focus on our growth products, CAMBIA® and Zipsor®, strengthens our balance sheet, and increases our flexibility for future business development opportunities,” said Ar
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