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Advanz Agrees Cut-Price Deal For Troubled Correvio Pharma

Firm Also Signs Agreement For UCB Portfolio

 
• By Dean Rudge

With a clear plan to move on niche and differentiated generics, complex specialty and value-added medicines, Advanz Pharma has agreed to buy debt-ridden Correvio Pharma and the rights to a portfolio from UCB, at the same time as shareholders opted to move to delist the company’s shares.

Handshake
Advanz has shaken hands on two deals, as it continues to eye strategic opportunities • Source: Shutterstock

Advanz Pharma has agreed a deal worth around $76m to swallow up debt-ridden, acute care specialist Correvio Pharma, which the firm says will provide a direct commercial presence in major European markets while strengthening Advanz’ existing presence in the Nordics and the UK.

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