Brief: Lilly To Divest Baqsimi To Amphastar

Amphastar Pharmaceuticals,

24/04/2023 11:51

April 24 (Reuters) - Amphastar Pharmaceuticals Inc
 AMPH.O :
    * AMPHASTAR PHARMACEUTICALS- LILLY ALSO ELIGIBLE TO RECEIVE
SALES-BASED MILESTONE PAYMENTS OF UP TO $450 MILLION IN
AGGREGATE
    * LILLY TO DIVEST BAQSIMI TO AMPHASTAR
    * AMPHASTAR PHARMACEUTICALS INC - AMPHASTAR WILL PAY LILLY
$500
MILLION IN CASH AT CLOSING
    * AMPHASTAR PHARMACEUTICALS INC - TRANSACTION IS NOT SUBJECT
TO
ANY FINANCING CONDITIONS AND IS EXPECTED TO CLOSE IN SECOND OR
Q3 OF 2023
    * AMPHASTAR - WILL PAY LILLY ADDITIONAL $125 MILLION IN CASH
UPON
ONE-YEAR ANNIVERSARY OF DEAL CLOSING
    * AMPHASTAR - PROCEEDS OF CO'S SENIOR CREDIT FACILITIES TO
BE USED
TOGETHER WITH CASH ON HAND TO FUND PORTION OF PURCHASE PRICE
PAYABLE AT CLOSING

Source text for Eikon:  ID: 
Further company coverage:  AMPH.O 

 ((Reuters.Briefs@thomsonreuters.com;))