Azurity acquires Covis Pharma from existing investors
The acquisition is aimed at improving Azurity's medicine delivery offerings globally.
It will broaden Azurity's therapeutic portfolio with 10 complex dosage forms and nine therapeutic areas and extend its worldwide reach to more than 50 nations.
The acquisition complements the companies' capabilities, spanning multiple complex dosage forms and therapeutic areas.
Azurity and its subsidiaries' workforce is expected to be increased to more than 800 across Europe, North America and Asia through the acquisition.
The combined entity will be a pivotal partner for life sciences companies worldwide, providing comprehensive development offerings and a worldwide commercial infrastructure.
Azurity Pharmaceuticals CEO Ronald Scarboro stated: 'We are excited to welcome Covis Pharma to Azurity. The efforts of colleagues at both companies, their devotion to overlooked patients and our culture of execution have brought us together to build this unique, highly differentiated pharmaceutical company.'
Azurity's mission of serving overlooked individuals is further advanced through this acquisition.
Its development process is expected to benefit from the integration, fostering scale and velocity in advancing treatments.
The commercial model of the company, which combines analytics, data and AI-driven digital capabilities, will be used for engaging the stakeholders with an optimised omnichannel marketing approach.
Goldman Sachs acted as the financial advisor, while White & Case and Eversheds Sutherland provided legal counsel to Azurity during the acquisition.
Covis was advised by Guggenheim Securities on financial matters and received legal advice from A&O Shearman and Reed Smith.
Wilson Sonsini Goodrich & Rosati offered litigation advice to Azurity.
In November 2024, the US Food and Drug Administration approved Azurity's Danziten (nilotinib), offering a new treatment option for chronic myeloid leukaemia patients.
"Azurity acquires Covis Pharma from existing investors" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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