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Aralez Sheds Assets For $250M As Bankruptcy Cases Begin

Law360 (August 10, 2018, 4:10 PM EDT) -- Aralez Pharmaceuticals Inc. on Friday said it will sell $250 million worth of assets in separate deals with Canada’s Nuvo Pharmaceuticals Inc. and funds controlled by investment firm Deerfield Management as the company begins bankruptcy proceedings in the U.S. and Canada.

The larger of the two deals carries a price of $140 million, and will see Deerfield take over the franchise of blood pressure medication Toprol-XL.

For its part, Nuvo will pay $110 million take control of Aralez’s Canadian specialty pharmaceutical business, including the royalties of...
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