Synergy Pharmaceuticals Is Approved to Sell Assets to Bausch Health
02 Marzo 2019 - 1:13AM
Dow Jones News
Synergy Pharmaceuticals Inc. (SGYP) on Friday confirmed its
previously announced agreement with Bausch Health Companies Inc.
(BHC) has been approved by the U.S. Bankruptcy Court for the
Southern District of New York.
The sale of Synergy's assets, including all rights to Trulance,
dolcanatide and related intellectual property, is now expected to
close on or about March 5.
Bausch Health Companies on Tuesday said it was selected as the
successful bidder to acquire certain assets of Synergy
Pharmaceuticals, which voluntarily filed for bankruptcy in
December, for approximately $195 million in cash and the assumption
of certain assumed liabilities.
The auction scheduled for Feb. 26 didn't go forward, Synergy
said, as no party submitted a higher and better bid.
Write to Aaron Rennie at aaron.rennie@wsj.com
(END) Dow Jones Newswires
March 01, 2019 18:58 ET (23:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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