9/13/2023 0 Comments Synergy pharmaceuticals australia![]() Even though it is still early to comment on the rebuilding process, the company's efforts to sell non-core assets and pay down huge levels of debt are noteworthy. Bausch's stock has gained 16.1% in the year so far, against the industry 's 13.8% decline.Īfter a tumultuous period, Bausch started a rebuilding process. The company was once an acquisition giant but some of them turned out to be unfavorable. Moreover, Bausch still owes a lot of debt. Sales of the drug have not been impressive. While the prospects of Trulance look good, the drug faces stiff competition from the likes of Allergan's AGN Linzess, among others, and hence might not reap the results expected by Bausch. We do not view the acquisition as an outright positive one. Moreover, the acquisition will add a promising candidate to Bausch's pipeline, dolcanatide, which is being evaluated for various GI indications. The company's lead drug, Trulance is a once-daily tablet approved for adults with chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C).īausch expects Trulance to complement its leading GI drug, Xifaxan, which is indicated for the treatment of irritable bowel syndrome with diarrhea (IBS-D) in adults and reduction in risk of overt hepatic encephalopathy (HE) recurrence in adults. Synergy Pharma is focused on the development and commercialization of novel gastrointestinal (GI) therapies. ![]() Assuming the bid is successful, the transaction is expected to close in the first quarter of 2019.īausch expects the buyout to be a strategic fit to its gastrointestinal business. However, Bausch's bid is subject to higher or better offers, as other interested parties will have an opportunity to submit competing bids. Bausch has also agreed to employ most of the current employees of Synergy Pharma. Per the terms, Bausch (through its affiliate) has agreed to acquire most of Synergy's assets - intellectual property, customer and vendor contracts, accounts receivable and goodwill, among others. Pursuant to Section 363 of the Bankruptcy Code, Synergy will conduct a court-supervised auction and sale process where Bausch will serve as the "stalking horse bidder."
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