ADVANZ has entered into an arrangement agreement to acquire all of the issued and outstanding shares of Correvio Pharma.
ADVANZ Pharma (TSX:ADVZ) announced that through its subsidiary, the company has entered into an arrangement agreement to acquire all of the issued and outstanding shares of specialty pharmaceutical company Correvio Pharma (NASDAQ:CORV,TSX: CORV).
As quoted in the press release:
The acquisition is expected to have a total purchase price of approximately $76 million1, which includes the repayment of certain Correvio indebtedness, pursuant to a plan of arrangement (“Plan of Arrangement”) under the Canada Business Corporations Act.
Correvio is a Vancouver, Canada-based specialty pharmaceutical company focused on providing innovative, high-quality brands that meet the needs of acute care physicians and patients. Correvio’s commercial presence is focused on major European markets with a broader distribution network covering more than 60 countries worldwide. For the nine months ending September 30, 2019, Correvio generated revenue of approximately $21 million.