Microsoft word - final final transaction announcement 12.22.11.doc
Covis Pharma to Acquire US Rights from
GlaxoSmithKline for Fortaz
®, and Zantac
ZUG Switzerland (December 22, 2011) - Covis Pharma Sàrl (“Covis Pharma”), a Switzerland-
based specialty pharmaceutical company owned by affiliates of Cerberus Capital Management,
L.P., today announced an agreement with GlaxoSmithKline to acquire full commercial rights for
Fortaz® (ceftazidime), Zinacef® (cefuroxime), Lanoxin® (digoxin), Parnate® (tranylcypromine
sulfate), and Zantac® Injection (ranitidine hydrochloride) in the United States and Puerto Rico.
GlaxoSmithKline will retain the existing rights for these products in countries outside the United
States. Terms of the agreement have not been disclosed.
“We are very pleased to announce the acquisition of this portfolio of drugs as we establish Covis
as a leading specialty pharmaceutical company,” said Jack Davis, CEO of Covis Pharma. “Our
world-class management team looks forward to building out our platform beyond the current
focus on the acute care, cardiovascular and CNS markets, into new and adjacent therapeutic
“The Covis Pharma management team has the deep relationships and understanding of the
healthcare markets,” said Bill Collins, CEO of Covis Pharmaceuticals Inc (USA). “We will supply
consistent, top quality, branded pharmaceuticals, ensuring that patients receive the therapeutic
care they need.” Covis Pharmaceuticals Inc (USA) is a Raleigh, North Carolina-based affiliate
that will provide U.S. sales and distribution support to Covis Pharma.
GSK will manufacture and supply Fortaz Injection, Zinacef Injection, Parnate, and Zantac
Injection to Covis. Lanoxin Tablets and Injection, Fortaz Frozen, Zinacef Frozen and Zantac
Injection Premixed will continue to be manufactured and supplied by current third-party
The agreement has received Hart-Scott-Rodino regulatory clearance in the United States.
Bourne Partners acted as a financial advisor to Covis Pharma.
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.
Fortaz®, Zinacef®, Lanoxin®, and Parnate® are registered trademarks of the GlaxoSmithKline
group of companies. Zantac® is a registered trademark of Boehringer Ingelheim
Pharmaceuticals, Inc., used under license.
Trademarks will be licensed from GSK, except that the Zantac® trademark will be sublicensed.
Cerberus Capital Management, L.P.
Peter Duda, 212-445-8213
Cerberus Media Line, 212-891-1558
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