UCB has entered into the previously announced agreement acquisition international biopharmaceutical company Zogenix in a deal valued at around $1.9 billion (€1.7 billion).
In January, UCB signed a definitive agreement to acquire all outstanding shares of Zogenix.
Under the agreement, the acquisition value includes $26 for each share in cash and a non-negotiable contingent value right (CVR).
In addition, the value of the transaction includes a CVR for a cash payment of $2 for each share on Fintepla obtaining approval in the EU by December 31 next year to treat crises related to the syndrome. of Lennox-Gastaut (LGS).
The latest merger is expected to expand and strengthen UCB’s role in addressing the unmet needs of epilepsy patients by adding Fintepla to its current product portfolio.
With this acquisition, Zogenix has become a wholly-owned subsidiary of UCB and will market Fintepla (fenfluramine) oral solution to treat Dravet syndrome and other indications.
A prescription therapy, Fintepla is approved in the United States and Europe to treat seizures related to Dravet syndrome in patients aged two years and older.
It is also being investigated for the treatment of seizures related to various other rare epilepsies, LGS and CDKL5 deficiency disorder.
Charl van Zyl, Executive Vice President of UCB Neurology and Head of Europe/International Markets, said: “We are very pleased to have completed today’s milestone on short notice and to welcome the Zogenix team in the UCB family.
“Together we will bring Fintepla (fenfluramine) oral solution to many more people around the world living with Dravet syndrome and hopefully soon additional indications as well.”
The company intends to revise its financial guidance during the second quarter of this year and expects the takeover of Zogenix to immediately boost revenue this year.