ADVANZ PHARMA to acquire Correvio Pharma for $76m.

ADVANZ PHARMA, a global pharmaceutical company, agreed to acquire Correvio Pharma, a specialty pharmaceutical company focused on commercializing hospital drugs, for $76m. In connection with the transaction and subject to closing, Correvio will apply to have its shares delisted from the TSX and Nasdaq and Correvio will cease to be a reporting issuer under Canadian securities law. "Correvio's highly experienced European commercial team provides us with a direct commercial presence in France, Germany, Spain, Italy and the Benelux region, while further strengthening our existing presence in the Nordics and the United Kingdom. Correvio's niche portfolio, consisting of an established brand, and two growing, patent-protected brands, plus a pipeline of potential product launches, are highly complementary to our current priorities and future focus. This is a transformative transaction that we are very excited about, creating what we believe is a leading global platform with advanced commercial capabilities in Western Europe, which should enable us to access further portfolio opportunities going forward," Graeme Duncan, ADVANZ PHARMA CEO.