checkAd

TherapeuticsMD Announces Definitive Agreements to License its Products to Mayne Pharma

TherapeuticsMD, Inc. (NASDAQ: TXMD) (“TherapeuticsMD,” “TXMD” or the “Company”), an innovative, leading women’s healthcare company, today announced that it has entered into definitive agreements to license its products to an affiliate of Mayne Pharma Group Limited (“Mayne Pharma”), an ASX-listed specialty pharmaceutical company focused on commercializing novel and generic pharmaceuticals, for commercialization in the United States. In addition, TXMD has agreed to sell certain assets to Mayne Pharma to allow Mayne Pharma to commercialize the products.

At closing of the transaction, TXMD will receive an upfront cash payment of $140.0 million for the license grant and sale of certain assets, plus an additional approximately $13.1 million, subject to customary adjustments, for acquired net working capital. In addition, TXMD will receive a 20-year royalty stream tied to Mayne Pharma’s net sales of the products. The upfront payment to be made by Mayne Pharma, along with cash on hand, will allow TXMD to repay its outstanding indebtedness with Sixth Street Partners and to redeem its outstanding preferred equity, with TXMD continuing as a pharmaceutical royalty company with the potential to create value for stakeholders over time from the resulting net cash flows.

"After completing a thorough evaluation of several strategic alternatives, our Board of Directors concluded that this transaction with Mayne Pharma would create the most value for TherapeuticsMD’s stakeholders," said The Honorable Tommy Thompson, Executive Chairman of TherapeuticsMD. “This transaction will allow us to repay in full our debt to Sixth Street Partners and redeem our preferred stock from Rubric Capital Management, while also establishing a future royalty revenue stream for our common shareholders. We believe that Mayne Pharma has the experience necessary to fully realize the promise of our products as we work together to improve patient care.”

Transaction Details

Under the terms of the transaction, TXMD will grant Mayne Pharma an exclusive license to commercialize the Company’s Imvexxy, Bijuva, and its prescription prenatal vitamin products sold under the BocaGreenMD and vitaMedMD brands and will assign to Mayne Pharma the Company’s exclusive license to commercialize Annovera (collectively, the “Products”) in the United States. In addition, TXMD will sell to Mayne Pharma certain assets to allow Mayne Pharma to commercialize the Products, including inventory.

Seite 1 von 4


Wertpapier



0 Kommentare
Nachrichtenquelle: Business Wire (engl.)
 |  250   |   |   

Schreibe Deinen Kommentar

Disclaimer

TherapeuticsMD Announces Definitive Agreements to License its Products to Mayne Pharma TherapeuticsMD, Inc. (NASDAQ: TXMD) (“TherapeuticsMD,” “TXMD” or the “Company”), an innovative, leading women’s healthcare company, today announced that it has entered into definitive agreements to license its products to an affiliate of Mayne …

Nachrichten des Autors

244 Leser
148 Leser
144 Leser
140 Leser
140 Leser
132 Leser
132 Leser
128 Leser
128 Leser
124 Leser
792 Leser
636 Leser
612 Leser
588 Leser
456 Leser
416 Leser
392 Leser
384 Leser
380 Leser
360 Leser
3236 Leser
2100 Leser
1764 Leser
1604 Leser
1460 Leser
1180 Leser
1152 Leser
1112 Leser
1028 Leser
1020 Leser
7528 Leser
3236 Leser
3081 Leser
2934 Leser
2497 Leser
2448 Leser
2370 Leser
2169 Leser
2106 Leser
2100 Leser