Brief: Karolinska Development Says Organon Acquires Forendo Pharma

Kdventures AB

11/11/2021 11:43

Nov 11 (Reuters) - Karolinska Development AB  KDEV.ST :
    * ORGANON ACQUIRES KAROLINSKA DEVELOPMENT’S PORTFOLIO
COMPANY
FORENDO PHARMA AT A TOTAL PURCHASE PRICE OF USD 945 MILLION
PROVIDED FULFILLMENT OF ALL MILESTONES
    * FORENDO PHARMA'S SHAREHOLDERS WILL RECEIVE AN INITIAL
PAYMENT OF
USD 75 MILLION
    * ORGANON ACQUIRES KAROLINSKA DEVELOPMENT'S PORTFOLIO
COMPANY
FORENDO PHARMA AT A TOTAL PURCHASE PRICE OF USD 945 MILLION
PROVIDED FULFILLMENT OF ALL MILESTONES
    * TOTAL PURCHASE PRICE, IF ALL MILESTONES ARE MET, AMOUNTS
TO USD
945 MILLION
    * FORENDO PHARMA'S SHAREHOLDERS ARE ENTITLED TO ADDITIONAL
FUTURE
PAYMENTS TOTALING USD 870 MILLION
    * TRANSACTION IS EXPECTED TO CLOSE IN DECEMBER 2021.
    * ESTIMATES RISK-ADJUSTED NET PRESENT VALUE OF FUTURE CASH
FLOWS,
INCLUDING INITIAL PAYMENT, FROM TRANSACTION AT SEK 114 MILLION
    * POSITIVE EFFECT ON NET PROFIT OF SEK 70 MILLION AND 
INCREASE IN
PORTFOLIO COMPANY'S FAIR VALUE OF SEK 70 MILLION IN Q3 2021
    * ADDITIONAL PURCHASE CONSIDERATION IS EXPECTED TO BE PAID
DURING
PERIOD 2024-2034

Source text for Eikon:  ID:nGNE6Pw1RB 
Further company coverage:  KDEV.ST 

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