Brief: Osmotica Pharmaceuticals PLC Announces Conclusion Of Strategic Process With Agreement For The Sale Of Legacy Business To Alora Pharmaceuticals, Llc

RVL Pharmaceuticals

25/06/2021 11:54

June 25 (Reuters) - Osmotica Pharmaceuticals PLC  OSMT.O :
    * OSMOTICA PHARMACEUTICALS PLC ANNOUNCES CONCLUSION OF
STRATEGIC
PROCESS WITH AGREEMENT FOR THE SALE OF LEGACY BUSINESS TO ALORA
PHARMACEUTICALS, LLC
    * OSMOTICA PHARMACEUTICALS - ALORA WILL ACQUIRE CO'S
PORTFOLIO OF
LEGACY PRODUCTS AND ITS MARIETTA, GEORGIA MANUFACTURING
FACILITY, FOR UP TO $170 MILLION
    * OSMOTICA PHARMACEUTICALS - WILL RECEIVE $110 MILLION
UPFRONT
CASH PAYMENT, WITH POTENTIAL TO RECEIVE UP TO $60 MILLION IN
ADDITIONAL MILESTONE PAYMENTS
    * OSMOTICA PHARMACEUTICALS - WILL RETAIN RVL PHARMACEUTICALS
BUSINESS FOCUSED ON OPHTHALMOLOGY AND AESTHETICS, LED BY ITS
FLAGSHIP PRODUCT, UPNEEQ
    * OSMOTICA PHARMACEUTICALS - WILL ALSO RETAIN ARBACLOFEN
EXTENDED-RELEASE TABLETS IN DEVELOPMENT TO TREAT MULTIPLE
SCLEROSIS SPASTICITY

Source text for Eikon:  ID:nGNX2DdSkh 
Further company coverage:  OSMT.O 

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