- Jun 16
Concordia Healthcare Completes Acquisition of Four Generic Products
AMCo and its parent Concordia Healthcare Corp. ("Concordia" or the "Company") (NASDAQ: CXRX) (TSX: CXR), an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, announced today that they have completed the acquisition of the global rights to four generic products, as previously announced on May 13, 2016.
These products include Sodium Feredetate oral solution for the treatment of anemia, Trazadone oral solution for the treatment of depression, as well as two additional pipeline products.
The Company paid £21 million for the acquisition with cash on hand. An additional £7 million in earn-out payments will be payable in the first quarter of 2017 if certain performance and supply targets are achieved.
"We are always looking for quality assets at compelling multiples, and we believe that this acquisition at approximately 2.6 times pro forma 2016 revenue is an exceptional opportunity for us," said Mark Thompson, Founder, Chairman and Chief Executive Officer of Concordia.