Eagle Pharma Adds Hospital-Based Products With €95M Acacia Pharma Deal

Eagle Pharmaceuticals Inc EGRX has agreed to acquire Acacia Pharma Group plc for approximately €94.7 million, equivalent to €0.90 per share.

• Each shareholder of Acacia Pharma would receive, as consideration for each share of Acacia Pharma held by such shareholder, €0.68 in cash and 0.0049 shares of common stock of Eagle. 
• The transaction terms also provide for Eagle to guarantee approximately €25.0 million of debt within the Acacia Pharma group. 
• The proposed transaction is expected to close in late Q2 2022.
• The deal will provide Eagle with two currently marketed, acute care, hospital products, Barhemsys and Byfavo.
• Barhemsys is an FDA-approved antiemetic for rescue treatment of postoperative nausea and vomiting (PONV) despite prophylaxis. 
• Byfavo is indicated for the induction and maintenance of procedural sedation in adults undergoing procedures lasting 30 minutes or less.
• The deal offers a robust synergistic fit with Eagle's current and expanding portfolio of hospital products and other expected cost synergies.
• Commercial stage, NCE products with a long patent duration through 2031 would add Eagle complementary and diversified revenue streams.
• The company expects the deal to be earnings accretive in 2024.
• Price Action: EGRX shares are up 6.73% at $50.13 during the market session on the last check Monday.