Assertio Holdings Inc., a pharmaceutical company offering products to patients, has bought all outstanding shares of Spectrum Pharmaceuticals Inc., a commercial-stage biopharmaceutical company focused on novel and targeted oncology, in an all-stock and contingent value rights (CVR) transaction.
Spectrum has an in-house clinical development organization with regulatory and data management capabilities in addition to commercial infrastructure and a field-based sales force. Spectrum’s Rolvedon is a long-acting G-CSF (granulocyte colony-stimulating factor) product. The deal looks to provide greater market access and resources through Assertio’s non-personal sales model and Spectrum’s in-person commercial infrastructure.
“Our combined assets and commercial infrastructure will position us to accelerate Rolvedon’s launch for the benefit of patients, maximize its potential and drive further growth,” states Tom Riga, president and chief executive officer of Spectrum Pharmaceuticals. “We are proud of the launch trajectory our team has achieved with Rolvedon and look forward to an exciting new chapter.”
Guggenheim Securities LLC is acting as financial advisor to Spectrum, and Gibson, Dunn & Crutcher LLP is serving as legal counsel. SVB Securities and H.C. Wainwright & Co. are acting as financial advisors to Assertio, and Latham & Watkins LLP is serving as legal counsel.