M&As this week: Scintilla Pharmaceuticals, Lonza Group Ltd, Piramal Enterprises Limited
Scintilla Pharmaceuticals has entered a binding term sheet to acquire Semnur Pharmaceuticals for a purchase consideration of up to $200m.
Scintilla Pharmaceuticals has entered a binding term sheet to acquire Semnur Pharmaceuticals for a purchase consideration of up to $200m.
According to the agreement, Scintilla Therapeutics will pay an initial payment to Semnur of $40m in cash and $20m in shares of common stock, while the remaining $140m will be paid upon achievement of development, product approval and commercial milestones.
The acquisition enables Scintilla Pharma to broaden its pain management pipeline.
Lonza Group Ltd plans to strengthen its nutritional ingredients portfolio and expand its business in areas such as cognitive and diabetic health by acquiring InterHealth Nutraceuticals Inc.
"The acquisition enables Scintilla Pharma to broaden its pain management pipeline."
The company expects the transaction to cost approximately $300m and be completed in September 2016.
The US-based, wholly-owned subsidiary of Piramal Enterprises Limited (PEL), a pharmaceutical company based in Mumbai, India, has agreed to acquire Ash Stevens Inc.
The target company is a US-based, contract development and manufacturing organisation. The purchase consideration for the acquisition is fixed at $42.95m to be paid in cash, in addition to up to $10m in earn-out consideration.
PEL expects to strengthen its manufacturing capabilities through the acquisition, which is expected to be completed by the end of this month.