 |  |
| Health and Pharmaceuticals |
|
back to headlinesprint storyemail story 07/29/2010 05:48:06 PM EDT -- Business Wire Actient Pharmaceuticals, LLC Closes Transaction to License and Acquire Specialty Pharmaceutical Products from UCB, INC.
DEERFIELD, Ill.--(BUSINESS WIRE)--
Actient Pharmaceuticals, LLC (“Actient”), a portfolio company of GTCR,
announced today the company successfully completed a transaction to
license and acquire six pharmaceutical products from UCB, Inc., a
subsidiary of UCB SA (“UCB”), an international biopharmaceutical company
based in Brussels, Belgium.
The product set will form the basis of a commercial platform upon which
Actient will continue to license and acquire strategic pharmaceutical
assets. Products in the transaction included: Edex® (alprostadil
for injection), Theo-24® (theophylline anhydrous), Semprex®-D Capsules
(acrivastine and pseudoephedrine hydrochloride), Levatol® (penbutolol
sulfate), Robaxin® (methocarbamol tablets, USP) and Dilatrate®-SR
(isosorbide dinitrate). The company plans to expand the senior
leadership team and hire a number of employees in support of the
expanded product portfolio associated with the acquisition.
“We are very pleased to add these products to our company as they
represent important therapies for patients across the U.S.,” said Ed
Fiorentino, Chief Executive Officer of Actient. “Going forward, we will
continue to seek additional opportunities in specialty areas that allow
us to extend our branded prescription product offering.”
“The transaction to license and acquire these products is a key first
step in achieving our objective of building a leading specialty
pharmaceutical company,” added GTCR Principal, Dean Mihas. “The Actient
management team led by Ed Fiorentino has an impressive track record of
establishing and growing businesses and we’re excited to be a partner in
this transaction and are committed to providing the resources to further
Actient’s growth.”
Prior to partnering with GTCR, Ed Fiorentino was a corporate officer and
22-year veteran of Abbott Laboratories (NYSE:ABT). His senior-level
management experience at Abbott included Corporate Vice President of
Pharmaceutical Commercial Operations, where he was responsible for all
U.S. sales, marketing and new product planning. He also served as Senior
Vice President and President of Abbott Diabetes Care, leading Abbott's
global device business in this area. Most recently, Ed was Executive
Vice President of TAP Pharmaceutical, an Abbott joint venture with
Takeda Pharmaceutical.
Legal counsel for the transaction included Kirkland & Ellis LLP and
Hogan Lovells, advising Actient and GTCR. Torreya Partners LLC served as
financial advisor to GTCR and Actient. GE Capital and LCB Credit
Partners provided the initial debt financing commitment in support of
the acquisition.
About Actient Pharmaceuticals, LLC
Actient Pharmaceuticals is a specialty pharmaceutical company focused on
therapeutics to improve patient outcomes. The company was formed to
acquire pharmaceutical companies and products with a focus on select
physician specialties. For more information, please visit www.actientpharma.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on
investing in growth companies in the Healthcare, Financial Services &
Technology, and Information Services & Technology industries. The
Chicago-based firm pioneered the “Leaders Strategy” – finding and
partnering with world-class leaders as the critical first step in
identifying, acquiring and building market-leading companies through
acquisitions and organic growth. Since its inception, GTCR has invested
more than $8.0 billion in over 200 companies. For more information,
please visit www.gtcr.com.
for Actient Pharmaceuticals, LLC Source: Actient Pharmaceuticals, LLC Copyright Business Wire 2010 |
Copyright © 2010 Acquire Media. All rights reserved.