Strongbridge Biopharma closes Macrilen rights transaction with Novo Nordisk

Strongbridge Biopharma closes Macrilen rights transaction with Novo Nordisk  Biopharma (SBBP) announced the closing of the transaction with Novo Nordisk (NVO) to transfer the rights to Macrilen in the United States and Canada. Strongbridge received a one-time upfront cash payment of $145M, of which a portion was used to fully repay outstanding debt. In addition, Novo Nordisk purchased 5.2M ordinary shares of Strongbridge at a purchase price of $7.00 per share, resulting in gross proceeds of $36.7M. Strongbridge will also be entitled to receive tiered royalties related to the sales of Macrilen through 2027. Novo Nordisk will fund Strongbridge’s rare endocrine commercial field organization to promote Macrilen in the U.S. for up to three years.

https://thefly.com/landingPageNews.php?id=2839143