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August 7, 2014
16:15 EDTMSLIMerus Labs subsidiary to acquire branded prescription medicine product
Merus Labs International announced that one of its wholly owned subsidiaries has signed a letter of intent to acquire the rights to manufacture, market, and sell a branded prescription medicine product in certain European countries. The product is being divested by a large multinational pharmaceutical company. In FY13, the product had net sales of approximately $28M in the applicable European territories. "We are pleased to sign this letter of intent as the addition of this product will substantially increase the revenues and associated EBITDA of the company, as well as, bring further scale and diversity to our existing product portfolio." said Elie Farah, president and CEO of Merus Labs International. The letter of intent is non-binding except that, in conjunction with its execution the company has paid $2M as an exclusivity payment and has the right to extend the exclusivity by making an additional payment of $1M. The transaction is expected to close on or before September 30.
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May 22, 2015
07:08 EDTMSLIMerus Labs acquires specialty product rights in multiple countries
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