On November 18th, 2003, Mont-Saint-Hilaire, Quebec, based Axcan Pharma Inc., a leading specialized pharmaceutical company focused on the field of gastroenterology, completed the cross-border acquisition of a group of gastrointestinal products from Aventis Pharmaceuticals for a cash purchase price of US $145 million. The transaction was financed with cash on hand.
Under the terms of agreement, Axcan acquired intellectual property, manufacturing and product approval rights to a group of products sold in the U.S. and Canadian markets. Carafate® is the U.S. brand and Sulcrate© the Canadian brand of a sulcrafate based product indicated for the treatment of active duodenal ulcers. Bentyl® and Bentylol® are antispasmodic and anticholinergic drugs mainly used for the relief symptoms associated with irritable bowel syndrome. Proctosedyl® is indicated for the reduction of swelling, pain and inflammation of haemorroids and other rectal lesions.
Acting for Axcan was a team led by Richard Tarte, General Counsel of Axcan, assisted by Ted Keim and Carrie Bordewick of the Chicago offices of Latham & Watkins. Aventis was represented in-house by Stacy Silkworth, Corporate Counsel; and by Morgan Lewis & Brokius LLP in Princeton, New Jersey, with a team that included Denis Segota and Alan Leeds.
Under the terms of agreement, Axcan acquired intellectual property, manufacturing and product approval rights to a group of products sold in the U.S. and Canadian markets. Carafate® is the U.S. brand and Sulcrate© the Canadian brand of a sulcrafate based product indicated for the treatment of active duodenal ulcers. Bentyl® and Bentylol® are antispasmodic and anticholinergic drugs mainly used for the relief symptoms associated with irritable bowel syndrome. Proctosedyl® is indicated for the reduction of swelling, pain and inflammation of haemorroids and other rectal lesions.
Acting for Axcan was a team led by Richard Tarte, General Counsel of Axcan, assisted by Ted Keim and Carrie Bordewick of the Chicago offices of Latham & Watkins. Aventis was represented in-house by Stacy Silkworth, Corporate Counsel; and by Morgan Lewis & Brokius LLP in Princeton, New Jersey, with a team that included Denis Segota and Alan Leeds.
Firm(s)
Latham & Watkins LLP