Old API Wind-down Ltd. Announces Sale of TOPROL-XL® Franchise to Deerfield Management Company, L.P.
MISSISSAUGA, ON, March 7, 2019 /CNW/ - On March 6, 2019, Old API Wind-down Ltd. (f/k/a Aralez Pharmaceuticals Inc.) (the "Company") completed its previously announced sale of the Company's TOPROL-XL® franchise to Toprol Acquisition LLC ("Acquisition Sub"), a subsidiary of Deerfield Management Company, L.P., for approximately $130,000,000 as a credit bid (the "Toprol Sale"), pursuant to the asset purchase agreement, dated September 18, 2018, by and among Acquisition Sub and Aralez Pharmaceuticals Trading DAC, a subsidiary of the Company. Acquisition Sub is owned by the secured lenders of the Company, Deerfield Private Design Fund III, L.P. and Deerfield Partners, L.P.
A copy of the current report on Form 8-K filed in connection with the Toprol Sale is incorporated by reference herein and has been filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com.
Additional Information
Information about the Company and the court-supervised proceedings is available at a website administered by the Company's claims agent, Primeclerk, at https://cases.primeclerk.com/Aralez. Information is also available at a website maintained by Richter Advisory Group Inc., the Company's court-appointed monitor in Canada, in accordance with the Canadian court proceedings, Richter Advisory Group Inc., at http://insolvency.richter.ca/A/Aralez-Pharmaceuticals.
SOURCE Old API Wind-down Ltd. (f/k/a Aralez Pharmaceuticals Inc.)
For additional information, vendors and customers may call 1-877-676-4390 or e-mail at [email protected].
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