Zealand Pharma to Acquire Valeritas’ Business and Retain its Employees

 Zealand Pharma to Acquire Valeritas’ Business and Retain its Employees

Zealand Pharma to Acquire Valeritas’ Business and Retain its Employees

Shots:

  • Valeritas to sell all its business to Zealand, in an all-cash transaction of ~$23M. Zealand will continue Valeritas’ commercially-focused operations and retain nearly all its employees
  • For the smooth accomplishment of a transaction, Valeritas and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the US bankruptcy code in the court. The transaction ponders the retention of total Valeritas’ workforce
  • Valeritas expects to obtain Debtor-in-Possession (DIP) financing to support the ongoing operation including the production & commercialization of V-Go. The V-Go wearable insulin delivery device is an all-in-one basal-bolus insulin delivery option for adult patients requiring insulin, eliminating the need for taking multiple daily shots

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: Take Care of Your Diabetes

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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