Knight Therapeutics to Acquire Paladin
MONTREAL, March 11, 2025 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ('Knight'), a pan-American (ex-US) specialty pharmaceutical company, announced today that it has entered into a definitive Asset Purchase Agreement ('APA') with Endo Operations Limited ('Endo') and Paladin Pharma Inc., to acquire the Paladin business ('Paladin').
At closing, Knight will pay an upfront payment of $120 million in cash, including inventory with a value of $20 million. In addition, Knight may pay future contingent payments of up to US$15 million upon achieving certain sales milestones. In 2024, Paladin generated revenues of $70 million excluding products that Paladin has stopped commercializing or is in the process of discontinuing.
"The reunion of Paladin and Knight, two companies dear to me, is both financially attractive and personally gratifying,' said Jonathan Ross Goodman, Executive Chairman of the Board of Directors of Knight Therapeutics Inc. and co-founder of Paladin.
'This synergistic transaction adds critical mass and significantly increases the size of our Canadian business. In addition, the acquisition adds a portfolio of stable cash flow generating pharmaceuticals that will help fund our growth in Canada and Latin America,' said Samira Sakhia, President and Chief Executive Officer of Knight Therapeutics Inc.
The closing of the transaction is subject to the satisfaction of customary regulatory conditions including anti-trust clearance in Canada and is expected to occur in the middle of 2025.
RBC Capital Markets is serving as exclusive financial advisor to Knight, and Davies Ward Phillips & Vineberg is serving as Knight's legal counsel.
Conference Call Notice
Knight will host a conference call and audio webcast to discuss the acquisition on Tuesday, March 11, 2025, at 8:30 am ET. Knight cordially invites all interested parties to participate in this call.
Date: Tuesday, March 11, 2025Time: 8:30 a.m. ETTelephone: Toll Free 1-888-699-1199 or International 1-416-945-7677Webcast: www.knighttx.com or WebcastThis is a listen-only audio webcast. Media Player is required to listen to the broadcast.
Replay: An archived replay will be available for 30 days at www.knighttx.com
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight's Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.knighttx.com or www.sedarplus.ca.
Forward-Looking Statements for Knight
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2023, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.
CONTACT INFORMATION FOR KNIGHT:
Investor Contact:
Knight Therapeutics Inc.
Samira Sakhia
Arvind Utchanah
President & Chief Executive Officer
Chief Financial Officer
T: 514.484.4483
T. +598.2626.2344
F: 514.481.4116
Email: IR@knighttx.com
Email: IR@knighttx.com
Website: www.knighttx.com
Website: www.knighttx.comSign in to access your portfolio
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