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Cipla Acquires Avenue, Primes Play In Pain Amid US Opioid Crisis

 
• By Anju Ghangurde

Cipla has struck a 'de-risked' deal to acquire the specialty firm Avenue Therapeutics, Inc, for up to $215m as it readies a niche play in the US pain management segment amid the opioid crisis.

USA
CIPLA HOPES TO CARVE A NICHE IN THE PAIN MANAGEMENT SPACE VIA AVENUE • Source: Shutterstock

InvaGen Pharmaceuticals Inc., a subsidiary of Cipla Ltd., is acquiring the Nasdaq-listed Avenue Therapeutics Inc., with an eye on its late-stage asset, intravenous (IV) tramadol, which could address a significant gap in the US post-operative pain management market against the backdrop of the opioid crisis there.

The two-stage deal will initially see InvaGen or its affiliates acquire, through the issuance by Avenue of new shares, a 33.3% stake in the US firm for $35m. Cipla’s holding is expected to comprise about 5.83m shares of Avenue issued at $6 each

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