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news.Sciele Pharma has completed its acquisition of Alliant Pharmaceuticals for approximately $109.75 million in cash, which includes approximately $14 million in indebtedness.
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The final purchase price is $12.5 million less than the originally negotiated and announced purchase price due to the termination of Alliant’s agreement with Morton Grove Pharmaceuticals to market Lindane.
The agreement between Sciele and Alliant also includes potential payments of up to $62.5 million based on meeting certain profit targets and product development targets for Alliant’s products. This is $7.5 million more than the previously announced $55 million and may be earned if Alliant’s products meet certain profitability targets.
Patrick Fourteau, Sciele’s CEO, said: “We are enthusiastic about completing this transaction with Alliant, which will provide Sciele with additional product diversification and a strategic expansion into pediatrics. We will rapidly integrate Alliant into Sciele, and we welcome all of the new employees from Alliant who will be joining Sciele to form our new pediatric sales team.”