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With Ikaria and Aptalis, Private Equity Investors Get Creative To Cash Out

This article was originally published in The Pink Sheet Daily

Executive Summary

Ikaria shareholders sold the commercial side of that critical care business, but retained a stake in the off-loaded assets. While gastrointestinal and cystic fibrosis company Aptalis turns to an IPO instead of an acquisition.

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The specialty pharma makes its first acquisition of the New Year, tucking in gastrointestinal and cystic fibrosis franchises, which bolster its current therapeutic area offerings.

In Split, Ikaria Looks For Products, While New R&D Play Preps For IPO

In a partial buy-out by new private equity investor Madison Dearborn Partners, Ikaria is refocused on building out its critical care product portfolio, while a new R&D spin-out may take a route to the public markets. Existing investors have already done nicely through a series of dividends.

Ikaria’s Hybrid Business Model Taps Big Pharma Trends

Although Ikaria focuses on a highly specialized segment of the hospital market, its integrated business model offers insights into continuum of care strategies that pharma companies are evaluating in a reimbursement-focused world. The company’s promising strategy could get a boost from key trial read-outs as soon as late 2012.

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