M&A News: UCB and Daiichi Sankyo

A roundup of mergers & acquisitions from UCB and Daiichi Sankyo.

UCB To Acquire Zogenix for $1.9 Bn
UCB has agreed to acquire Zogenix, an Emeryville, California-based bio/pharmaceutical company commercializing and developing therapies for rare diseases, for approximately $1.9 billion.

The pending acquisition would add Fintepla (fenfluramine), Zogenix’s C-IV oral solution approved for seizures associated with Dravet syndrome, a rare form of epilepsy, and with potential in other seizure disorders, including Lennox-Gastaut syndrome, a type of epilepsy.

Under the agreement, UCB, through a wholly owned subsidiary, Zinc Merger Sub, will initiate a tender offer to acquire all outstanding shares of Zogenix for a purchase price of $26.00 per share in cash, plus one non-tradeable contingent value right. Upon the successful completion of the tender offer, UCB’s acquisition subsidiary will be merged into Zogenix, and any remaining shares of common stock of Zogenix will be cancelled and converted into the right to receive the same consideration per share offered in the tender offer. The transaction is expected to close by the end of the second quarter of 2022.

Source: UCB and Zogenix

Daiichi To Divest Certain Cardio Products
Daiichi Sankyo has agreed to divest certain cardiovascular and other legacy products to Cosette Pharmaceuticals, a South Plainfield, New Jersey-based generics company.

Under the agreement, Cosette acquired rights for manufacturing, commercialization, and certain other rights for the following products in the US: (1) Azor (amlodipine/olmesartan medoxomil); (2) Benicar (olmesartan medoxomil); (3) Benicar HCT (olmesartan medoxomil/hydrochlorothiazide); (4) Effient (prasugrel); (5) Evoxac (cevimeline HCL); (6) Tribenzor (olmesartan medoxomil/amlodipine/hydrochlorothiazide); (7) Welchol (colesevelam HCL) tablets; and (8) Welchol (colesevelam HCL) oral suspension.

The agreement outlines a 30-month transition period during which Daiichi Sankyo and Cosette Pharmaceuticals will transfer responsibilities for the manufacture, supply, and commercialization of these products, including quality assurance, pharmacovigilance and regulatory matters.

Source: Daiichi Sankyo