PharmiWeb.com - Global Pharma News & Resources
PharmiWeb Today Story
ADVANZ PHARMA Corp. Limited Closes Acquisition of Specialty Pharmaceutical Company Correvio Pharma Corp.

London, England, May 28, 2020 - ADVANZ PHARMA Corp. Limited (“ADVANZ PHARMA”), a global pharmaceutical company focused on serving the needs of patients and healthcare providers around the world with enhanced access to high quality, niche-established medicines, today announced that it closed its previously announced acquisition of specialty pharmaceutical company Correvio Pharma Corp. (“Correvio”).

This acquisition will provide ADVANZ PHARMA with an immediate and direct commercial and medical presence in Germany, France, Spain, Italy, and the Benelux region, while strengthening its existing presence in the Nordics and the United Kingdom. It will also bring a portfolio of innovative high-quality brands that are sold in more than 60 countries around the world. ADVANZ PHARMA paid approximately $76 million for the acquisition with its cash on hand.[1]

“This is a transformative step for our company that is directly aligned with our purpose to deliver enhanced access to niche established medicines,” said Graeme Duncan, Chief Executive Officer of ADVANZ PHARMA. “The acquisition of Correvio is in line with our growth strategy and is an important step in our journey of becoming the leading platform for niche-established medicines. Not only will this mean we are combining two highly skilled and talented workforces, it will also deepen our reach across Western Europe and expand our supply of over 200 medicines, for the benefit of patients and healthcare systems.”

Correvio, now a wholly-owned subsidiary of ADVANZ PHARMA, is a specialty pharmaceutical company focused on providing innovative…

Read More...

ADVANZ PHARMA Corp. Limited Closes Acquisition of Specialty Pharmaceutical Company Correvio Pharma Corp.

Articles