SPECTRA PHARMACEUTICALS PLUS

“Our mission at Spectrum has always been to make a difference in the lives of patients and with Assertio, we have a partner that will enable us to deliver on this promise. “We are excited to combine with Assertio in a transaction that will deliver significant value to our stockholders and the opportunity to share in the future upside of ROLVEDON,” said Tom Riga, President and Chief Executive Officer of Spectrum Pharmaceuticals. We intend to retain the majority of Spectrum’s commercial infrastructure, which we believe is synergistic to our digital non-personal platform, deploying these complementary dual channels to support clinical messaging, reimbursement education and ROLVEDON awareness to further aid and accelerate its launch,” said Dan Peisert, President and Chief Executive Officer of Assertio. “The addition of Spectrum’s commercial capabilities and ROLVEDON, a novel long-acting G-CSF product recently launched into a blockbuster market in October 2022, exemplifies Assertio’s attractiveness as an acquirer of new, accretive assets across diverse therapeutic categories, and ability to continue their growth and achieve profitable contributions faster and more efficiently than could be achieved on a standalone basis. (Nasdaq: SPPI) (“Spectrum”), a commercial stage biopharmaceutical company focused on novel and targeted oncology, today announced that they have entered into a definitive agreement pursuant to which Assertio will acquire all outstanding shares of Spectrum in an all-stock and contingent value rights (“CVR”) transaction. (Nasdaq: ASRT) (“Assertio”), a specialty pharmaceutical company offering differentiated products to patients, and Spectrum Pharmaceuticals, Inc. LAKE FOREST, Ill., and BOSTON, Ap(GLOBE NEWSWIRE) - Assertio Holdings, Inc. Upfront Consideration Represents a Premium of 65% and the Total Potential Consideration Represents a Premium of 94% to Spectrum’s Latest Closing PriceĪssertio Stockholders to Own Approximately 65% and Spectrum Stockholders to Own Approximately 35% of Combined CompanyĬlosing of Transaction Expected in Q3 2023Īssertio and Spectrum to Host Conference Call Today at 8:30 AM ET

SPECTRA PHARMACEUTICALS PLUS

Spectrum Stockholders Will Receive Upfront Consideration of 0.1783 ASRT shares per SPPI Share ($1.14 per share) Plus One CVR for Total Potential Consideration of up to $1.34 per Share Transaction Expected to Be Accretive to Assertio’s Adjusted EPS and Operating Cash Flow in 2024 Spectrum Pharmaceuticals, Inc.Ĭomplementary Commercial Growth Platforms Anticipated to Accelerate ROLVEDON™ (eflapegrastim-xnst) Injection Profitability and Diversify Revenue StreamsĬombination of Assertio’s Omni-Channel Digital Sales Capabilities and ROLVEDON In-Person Commercial Team to Enhance Market Access and Growth across All Products

Spectra pharmaceuticals