Eagle Pharmaceuticals Inc (NASDAQ:EGRX) has agreed to acquire Acacia Pharma Group plc for approximately €94.7 million, equivalent to €0.90 per share.
- Each shareholder of Acacia Pharma would receive, as consideration for each share of Acacia Pharma held by such shareholder, €0.68 in cash and 0.0049 shares of common stock of Eagle.
- The transaction terms also provide for Eagle to guarantee approximately €25.0 million of debt within the Acacia Pharma group.
- The proposed transaction is expected to close in late Q2 2022.
- The deal will provide Eagle with two currently marketed, acute care, hospital products, Barhemsys and Byfavo.
- Barhemsys is an FDA-approved antiemetic for rescue treatment of postoperative nausea and vomiting (PONV) despite prophylaxis.
- Byfavo is indicated for the induction and maintenance of procedural sedation in adults undergoing procedures lasting 30 minutes or less.
- The deal offers a robust synergistic fit with Eagle's current and expanding portfolio of hospital products and other expected cost synergies.
- Commercial stage, NCE products with a long patent duration through 2031 would add Eagle complementary and diversified revenue streams.
- The company expects the deal to be earnings accretive in 2024.
- Price Action: EGRX shares are up 6.73% at $50.13 during the market session on the last check Monday.
