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last mo.

Zydus to Buy Assertio for $166.4 Million in All-Cash Deal

The purchase gives Zydus a direct oncology foothold in the US built around the FDA-approved drug Rolvedon.

Upon completion of the tender, Zydus will acquire any remaining shares through a second-step merger at the same price. Credit: Piotr Swat / Shutterstock.com.
For Zydus, the transaction also adds a direct commercial interface with oncologists and specialty-care providers in the US, where it has been expanding its complex generics and specialty portfolio.
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Overview

  • Zydus will acquire all Assertio shares for $23.50 in cash through a tender offer followed by a second-step merger executed via its DMCC unit and Zara Merger Sub.
  • The deal structure requires a majority of Assertio’s outstanding shares to be tendered before the merger can close.
  • Assertio’s key product is Rolvedon, a long-acting G-CSF biologic that helps prevent dangerous infections during chemotherapy by raising white blood cell counts.
  • Zydus says it will start the tender offer within five business days of the merger pact and expects to close after regulatory reviews and other standard conditions.
  • Assertio’s board endorsed the offer as superior to Garda Therapeutics’ bids, citing higher price and fewer execution risks, with a 30.6% premium to the April $18 offer and 7.8% over the May $21.80 bid.