Wednesday, July 10, 2019
Horizon Therapeutics announces proposed private offering of senior notes
Horizon Therapeutics (HZNP) intends to offer $500M aggregate principal amount of senior notes due 2027.
Horizon expects to use the net proceeds, together with ~$64M in cash on hand, to redeem $525M of its outstanding debt as well as to pay the related premiums, and fees and expenses, excluding accrued interest, associated with the redemption.
TransEnterix divests certain AutoLap assets for $47M
TransEnterix (TRXC +1.2%) has agreed to sell certain AutoLap image-based laparoscope positioning system assets to British Virgin Islands-domiciled healthcare investor Great Belief International Limited (GBIL).
Under the terms of the deal, TRXC will retain of the broader intellectual property (IP) portfolio acquired from Medical Surgical Technologies in October 2018 while it will ink a cross-license agreement with GBIL for access to the AutoLap IP it sold. GBIL, in turn, will have a non-exclusive license to the additional AutoLap IP that it did not buy.
GBIL will pay the company $5M by the end of the month and $12M by November 30. It will also acquire $30M of TRXC common stock at $2 per share.
GBIL acquired the company’s SurgiBot in December 2017 for $29M.
FDA tentatively approves Mylan’s generic Eliquis
The FDA has tentatively approved Mylan N.V.’s (MYL -3.3%) generic version of Bristol-Myers Squibb’s (BMY -0.1%) blood thinner Eliquis (apixaban).
Tentative approval means that MYL’s marketing application met the requirements for approval, but patent issues need to be resolved before full approval is granted.
Subscribe to:
Comments (Atom)