Align Global Consulting Advises Covis Pharma on Acquisition of Sanofi Portfolio
Zug, Switzerland (April 4, 2013) - Align Global Consulting announces that it successfully advised Covis Pharma Sàrl (“Covis Pharma”), a Switzerland-based specialty pharmaceutical company owned by affiliates of Cerberus Capital Management, L.P., in reaching an agreement with Sanofi-Aventis U.S. LLC and certain of its affiliates ("Sanofi") to acquire full commercial rights for Nilandron® (nilutamide), Plaquenil® (hydroxychloroquine), Rilutek® (riluzole), Uroxatral® (alfuzosin hydrochloride), and Kayexalate® (sodium polystyrene sulfate) in the United States. The aggregate sales for these products in the United States in 2012 were $114.6 million. Align Global Consulting acted as tax structuring counsel to Covis Pharma throughout the transaction.
"We are very pleased to announce the addition of these products to our existing portfolio," said Jack Davis, CEO of Covis Pharma. "Covis will continue to supply consistent, top quality, branded pharmaceuticals, ensuring that patients receive the therapeutic care they need."
"It was again our privilege to advise Covis on one of the industry’s more notable transactions in recent years," said Sean M. King, President of Align Global Consulting. "We were pleased to play the same role when Covis acquired rights from GSK in 2011 and we are again privileged to play a prominent role in such a notable international transaction," he continued.
About Covis Pharma
Headquartered in Zug, Switzerland, Covis Pharma is a global specialty pharmaceutical company providing therapeutic solutions to patients. The company’s distinctive product portfolio addresses life threatening and other serious medical conditions in the cardiovascular, central nervous system (CNS) and acute care markets. Covis Pharma’s paramount concern is patients’ outcomes as it focuses on improving human health. With six branded products currently in market, Covis Pharma aims to become a leading specialty pharmaceutical company through organic, as well as global acquisitive, growth. The investor group in Covis Pharma has significant investment and operational experience in the specialty pharmaceutical industry. Led by affiliates of Cerberus Capital Management, L.P., one of the world’s leading private investment firms, the investor group also includes Princeton Biopharma Capital Partners, LLC and Bourne Capital Partners. For more information, visit www.covispharma.com.
About Align Global Consulting
Align Global Consulting is a United States-based globalization consulting firm that helps clients expand globally or improve existing operations by providing creative legal and tax solutions to address commercial, trade, investment and regulatory matters. Align's comprehensive list of services includes global structuring, global business transactions, cross-border M&A transactions, and international tax planning for outbound and inbound investment. Align’s clients range from emerging growth and venture-backed companies to a private equity firm with more than US$20 billion under management. With "big firm" credentials and experience, Align handles matters traditionally entrusted to larger firms, while maintaining a commitment to the lost art of one-on- one client service. Visit www.alignglobalconsulting.com.