Smith Anderson Advises Chiesi in Transaction to Acquire Three Cardiovascular Hospital Products for up to $792 Million
Smith Anderson clients Chiesi USA, Inc. and Chiesi Farmaceutici S.p.A., Chiesi USA's parent company, announced today that the companies have finalized the acquisition of multinational rights to Kengreal® (cangrelor) for injection and Cleviprex® (clevidipine) injectable emulsion, as well as rights to Argatroban™ for Injection, 50 mg per 50 mL from The Medicines Company. All three products are for use in the hospital setting and approved for sale in the U.S. The Medicines Company is receiving approximately $262 million in cash at closing, and is entitled to receive up to $480 million in sales-based milestone and royalty payment obligations.
Ken McBean, President and Chief Executive Officer of Chiesi USA, said, "Our acquisition of these products further strengthens our position as a leader in the hospital and adjacent specialty product space. We are excited to be able to offer these products to healthcare providers to enhance care for their patients who can benefit from these medications."
The Smith Anderson team that represented Chiesi in the transaction was led by Heyward Armstrong, Jason Brege, David Clement and Justin Truesdale.
To view the Chiesi press release, please click here.