Innoviva to Acquire La Jolla for ~$149M
Shots:
- Innoviva to acquire all of the outstanding shares of La Jolla’s common stock at $6.23/share in cash making a total deal value of ~$149M. La Jolla investors will receive $5.95/share representing a premium of ~70% to the 30-day & an additional $0.28/share for the divestiture of non-core assets. The transaction is expected to close within 30 business days
- The acquisition will strengthen Innoviva’s portfolio with the addition of Giapreza & Xerava and also adds a highly complementary commercial franchise to its portfolio to accelerate long-term growth
- La Jolla has 2 marketed products that are used in hospitalized patients with infections i.e., Giapreza for low blood pressure in patients with septic shock & Xerava for abdominal infections
Ref: Businesswire| Image: La Jolla
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
