Trulieve Cannabis Merges With Harvest Health
The medical marijuana market just got its biggest merger. Trulieve Cannabis Corp. (OTC: TCNNF), a vertically integrated “seed-to-sale” company, announced last week the acquisition of Harvest Health & Recreation Inc. for $2.1 billion. Harvest Health is a vertically integrated medical cannabis company and multi-state operator. The company also operates retail locations. Trulieve will acquire all Harvest Shares, with each Harvest Shareholder receiving 0.1170 of a Trulieve Share for each Harvest Share, implying a price per Harvest Share of $4.79, a 34% premium to the May 7, 2021 closing price. Harvest Health generated $231.6 million in revenue in 2020 and... Read More »
Pfizer Acquires Amplyx Pharmaceuticals
After getting its Covid-19 vaccine to market in record time, Pfizer Inc. (NYSE: PFE) is back on the acquisition trail. The pharmaceutical giant has purchased Amplyx Pharmaceuticals, Inc. for an undisclosed sum. Amplyx Pharmaceuticals is a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections. In addition to Fosmanogepix, with this acquisition, Pfizer has secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral... Read More »
Procaps Group Merges with Union Acquisition
If you were looking for another SPAC deal this week, say no more. Procaps Group announced a reverse merger with Union Acquisition Corp. II (NASDAQ: LATN). Founded in 1977, Procaps is a leading integrated international healthcare and pharmaceutical company with a successful history of growth and diversification. Procaps is the largest pharmaceutical integral CDMO in Latin America, and its proprietary portfolio of branded Rx and OTC products and services is sold, distributed, or provided to over 50 markets. It has six state-of-the-art manufacturing facilities in Latin America, including the first FDA-approved pharmaceutical plant in South America for selling Rx products into the United... Read More »
Jazz Pharmaceuticals Buys GW Pharmaceuticals
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is back with a new acquisition. The Ireland-based pharmaceutical company has announced the purchase of GW Pharmaceuticals plc (OTC: GWPRF) for $7.2 billion, or $220 per American Depositary Share in the form of $200 in cash and $20 in Jazz Pharmaceuticals ordinary shares. The price represents a premium of approximately 50% over GW’s closing stock price on February 2, 2021, of $146.25 and 60% over GW’s 30-day volume-weighted average price of $137.17. GW Pharmaceuticals is a global pharmaceutical company that discovers, develops, manufactures and commercializes novel, regulatory approved therapeutics from its proprietary cannabinoid product... Read More »