Healthcare fund Gurnet Point Capital (GPC) and Novo Holdings, the controlling shareholder of Novo Nordisk (NYSE: NVO), have completed the acquisition of biopharmaceutical company Paratek Pharmaceuticals (NASDAQ: PRTK) this week. The acquisition solidifies the group’s position in the market and expands their portfolio with the addition of the antibiotic Nuzyra (omadacycline), Paratek’s lead product.
Acquisition Details and Financials
The acquisition of Paratek Pharmaceuticals involved a payment of approximately USD 462 million for all outstanding shares, reflecting the company’s value and potential in the biopharmaceutical sector. Additionally, GPC and Novo have committed to a contingent value right (CVR) of USD 0.85 per share, payable upon the achievement of USD 320 million in Nuzyra sales in the US within the period from 2023 to 2026. This performance-based payment structure aligns with the goals of driving growth and market penetration for Nuzyra.
Product Portfolio and Market Impact
Nuzyrra, marketed in the US for community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI), is a significant addition to the acquiring group’s product lineup. The acquisition of Paratek Pharmaceuticals not only strengthens the group’s presence in the antibiotics market but also highlights their commitment to addressing unmet needs in infectious disease treatment.
Post-Acquisition Developments
Following the acquisition, Paratek Pharmaceuticals has been delisted from the NASDAQ stock exchange, marking a new chapter for the company under the ownership of GPC and Novo Holdings. This move is expected to facilitate strategic integration and operational synergies within the group, as they work towards enhancing the development and commercialization of Nuzyra and other potential products in Paratek’s pipeline.-Fineline Info & Tech
