What's Happening With Osmotica Pharmaceuticals?
Osmotica Pharmaceuticals (OSMT) today announced that it has concluded the process of the Purchase and Sale Agreement with Alora Pharmaceuticals. According to the agreement, Alora will acquire Osmotica’s legacy products and its Marietta, Georgia manufacturing facility in the amount of $170 million. Shares of the company were trading higher 41.60% t0 $4.00 a share on Friday.
What Does This For Osmotica Pharmaceuticals?
“Today’s announcement is a meaningful step in the transformation of our business and aligns with our strategy of building a portfolio of growth assets in ocular aesthetics,” said Brian Markison, CEO of Osmotica Pharmaceuticals.
As part of the agreement, Osmotica will get $110 million in upfront cash, with the potential to receive up to $60 million in additional milestone payments. Alora will acquire manufacturing operations in Marietta, Georgia in addition to legacy products, with Osmotica retaining the RVL Pharmaceuticals business focused on ophthalmology and aesthetics, led by its flagship product, UPNEEQ®.
"Alora Pharmaceuticals is excited to welcome the Osmotica team to our growing company. This acquisition will immediately bolster our platform of generic and branded product lines and will contribute to the long-term growth of our contract research and development and manufacturing capabilities,” said Art Deas, CEO of Alora.
The deal is expected to finalize in the third quarter of 2021.
Osmotica Pharmaceuticals plc, an integrated biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products in the United States, Argentina, and Hungary.
OSMT has a Fundamental Rank of 98. Find out what this means to you and get the rest of the rankings on OSMT!
Osmotica Pharmaceuticals PLC is a fully-integrated biopharmaceutical company. It is focused on developing, manufacturing and commercializing specialty products. The product portfolio of the group includes specialty neurology and women's health products, which are primarily complex formulations of generic drugs. Osmotica has a late-stage development pipeline by two NDA candidates that recently completed Phase III clinical trials: arbaclofen ER for spasticity in multiple sclerosis patients and RVL-1201 for the treatment of acquired blepharoptosis, or droopy eyelid.
