Mallinckrodt to Divest its Subsidiary BioVectra for $250M
Shots:
- H.I.G. Capital acquires BioVectra (a subsidiary of Mallinckrodt) for $175M fixed consideration including $135M as up front and $40M as long term note along with a contingent payment of $75M. The transaction is expected to close in Q4’19
- BioVectra will continue to supply an API to support Mallinckrodt’s brands business and allow it to focus on its branded biopharmaceuticals by monetizing a non-core business. The transaction is expected to include all BioVectra's sites across Prince Edward Island and Nova Scotia- Canada with its employee base
- BioVectra is a CDMO serving global pharmaceutical and biotech companies with full-service cGMP outsourcing solutions for intermediates and APIs and has 45yrs. experience in cGMP microbial fermentation- complex chemistry-high potency APIs- biologics- formulation development
Click here to read full press release/ article | Ref: Mallinckrodt | Image: BioVectra
Tags
This content piece was prepared by our former Senior Editor. She had expertise in life science research and was an avid reader. For any query reach out to us at connect@pharmashots.com