subscribe to our newsletter sign up
Pharmaceutical sector puts spring into September

Pharmaceutical sector puts spring into September

There have been signs of renewed activity in the pharmaceuticals sector in September, with two significant deals announced in recent weeks.On 3 September, Peplin Inc (Peplin) announced a…

There have been signs of renewed activity in the pharmaceuticals sector in September, with two significant deals announced in recent weeks.

On 3 September, Peplin Inc (Peplin) announced a proposed $US287.5 million ($348.4 million) merger with LEO Pharma A/S, a privately held global pharmaceutical company based in Denmark. Under the merger, LEO will acquire all outstanding securities of Peplin for $US287.5 million in cash, subject to Peplin shareholders' approval and other customary conditions. The deal is expected to close by the end of the year. Corrs Chambers Westgarth is acting as Australian legal counsel to Peplin. Corporate M&A partner James Rozsa is leading the Corrs deal team, which includes Clare Dunne and Penny Shalders. Gilbert+Tobin is acting as Australian legal counsel to LEO Pharma A/S.

On 7 September, Sigma Pharmaceuticals launched a $297m capital raising, following on from Sigma's acquisition of a Bristol-Myers Squibb unit in Melbourne. The money raised will be used to fund this recent acquisition and to reduce gearing.

Mallesons Stephen Jaques is acting for the underwriter, Deutsche Bank, on the Sigma capital raising. Partner David Friedlander is leading the Mallesons team, supported by senior associates Adam Levine and Simon Panegyres and solicitors Jessica Hudson and Amanda Isouard.

Deal summary:

Peplin/ LEO Pharma merger

Sigma Pharmaceuticals capital raising

Key Players:

Corrs Chambers Westgarth, Mallesons Stephen Jaques, Gilbert + Tobin, Deutsche Bank

Promoted content
Recommended by Spike Native Network
X