Assertio Targets Febrile Neutropenia Drug In Spectrum Buyout Deal

Assertio Holdings, Inc. is banking on a recently approved oncology drug from Spectrum Pharmaceuticals Inc. in its move to acquire that company for nearly a quarter of $1bn, while viewing it as a way to boost its portfolio and further a strategy that includes growth through acquisition of products and companies. It also gives a new home to Spectrum, which over the past several years has experienced setbacks and a major reboot. But it remains uncertain whether the new cancer drug Rolvedon (eflapegrastim-xnst) will achieve anticipated near-term sales milestones.

Assertio said 25 April that it would buy Spectrum in an all stock and contingent value rights (CVR) acquisition for $248m. A crown jewel in the deal is Rolvedon, a...