Merz Announces Asset Acquisition Agreement with a US Biotechnology Company
Wednesday, April 03, 2024
Merz Therapeutics, a division of the Frankfurt-based Merz Group, has initiated a deal to acquire two established medications from Acorda Therapeutics, a Nasdaq-listed company. This move is set to significantly boost Merz Therapeutics' strategic growth agenda.
Jörg Bergler, the Chief Operating Officer of Merz Group, expressed excitement about this development, stating, “The Merz Therapeutics segment, primarily focused on neuroscience, has shown strong growth in recent years. This investment marks a significant step forward in advancing our growth strategy, particularly in strengthening our capabilities in addressing movement disorders and neurodegenerative ailments. Moreover, it enhances our presence in the North American market. We are optimistic about the prospects of Merz Therapeutics and firmly believe that the acquisition of these two drugs—one targeting the OFF stage in Parkinson's disease (PD) treatment and the other addressing gait disorders in multiple sclerosis—will deliver significant value to both healthcare providers and patients."
The acquisition process will adhere to the court-mandated 363 sale procedure under the U.S. Bankruptcy Code, with Merz Therapeutics initiating the bidding with a starting price of US$185 million. The transaction is slated for completion by June 2024, subject to court approval.
For the Merz Group, a family-owned enterprise headquartered in Frankfurt, this investment marks its third venture in the U.S. within a decade and its second investment in a Nasdaq-listed entity. Jörg Bergler emphasized, “Merz has witnessed substantial growth in recent years, not only organically but also through strategic acquisitions, particularly in the North American region. We possess extensive expertise in acquiring and seamlessly integrating U.S.-based firms or product lines. As a global entity hailing from Germany, we are deeply committed to pursuing innovative acquisitions on a global scale."
Stefan König, the CEO of Merz Therapeutics, highlighted the company's patient-centric approach, affirming, “As a forward-thinking organization deeply committed to patient welfare, we recognize our duty to sustain patient care and uphold Acorda's established and pioneering therapies. We view this as a potentially synergistic alliance, one that broadens avenues and fortifies our aspirations in critical therapeutic domains."
Source: businesswire.com
