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QLT finds new option after Auxilium, acquires InSite Vision; mysterious bidder enters; withdrawn
10 Sep 2020
Executive Summary
Eight months after QLT Inc. lost out on a tax inversion reverse merger with Auxilium Pharmaceuticals Inc. (which Endo International PLC ended up acquiring), QLT found a new strategic option and bought fellow public ophthalmic company InSite Vision Inc. QLT will issue 0.048 shares for each InSite share, valuing InSite at $21.1mm (equating to $0.16 per share, a 14% premium). QLT will own 89% of the combined entity, and InSite the rest.
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
-
Drug Delivery
- Controlled Release
- Topical Delivery
-
Drug Delivery
Deal Status
- Withdrawn
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Stock
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QLT finds new option after Auxilium, acquires InSite Vision; mysterious bidder enters; withdrawn
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