BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Actient Pharmaceuticals LLC Inks Deal with UCB SA for Marketed Drugs with Global Sales of $53M


7/30/2010 7:25:22 AM

CHICAGO--(BUSINESS WIRE)--GTCR, one of the country’s leading private equity firms, announced today that Actient Pharmaceuticals, LLC has successfully completed a transaction to license and acquire six pharmaceutical products from UCB, Inc., a subsidiary of UCB SA, an international biopharmaceutical company based in Brussels, Belgium.

The acquisition of the six on-market products is the first transaction for Actient Pharmaceuticals. The transaction provides Actient with an opportunity to set up a commercial pharmaceutical platform and a strategic asset in the urology space that can be leveraged through additional acquisitions. The company plans to expand the senior leadership team and hire a number of employees in support of the expanded product portfolio associated with the acquisition.

Actient is a management partnership formed with industry leader Ed Fiorentino. Prior to partnering with GTCR, Mr. Fiorentino was a corporate officer and 22-year veteran of Abbott Laboratories (NYSE:ABT - News). His senior-level management experience included Corporate Vice President of Pharmaceutical Commercial Operations, where he was responsible for all U.S. sales, marketing and new product planning. He also served as Senior Vice President and President of Abbott Diabetes Care, leading Abbott's global device business in this area. Most recently, Ed was Executive Vice President of TAP Pharmaceutical, an Abbott joint venture with Takeda Pharmaceutical.

“The transaction to license and acquire these products is a key first step in achieving our objective of building a leading specialty pharmaceutical company,” added GTCR Principal, Dean Mihas. “The Actient management team led by Ed Fiorentino has an impressive track record of establishing and growing businesses and we’re excited to be a partner in this transaction and are committed to providing the resources to further Actient’s growth."

“I look forward to deepening Actient’s partnership with GTCR through this initial transaction,” noted Fiorentino. “GTCR’s highly successful track record in branded pharmaceuticals and commitment to our growth will go a long way in helping us to achieve our vision of delivering clinically meaningful products to patients."

Kirkland & Ellis LLP and Hogan Lovells served as legal counsel to GTCR and Actient. Torreya Partners LLC served as financial advisor to GTCR and Actient. GE Capital and LBC Credit Partners provided the initial debt financing commitment in support of the acquisition. GTCR’s investment in Actient to support the transaction was made from GTCR Fund IX, a private equity fund with $2.75 billion of committed capital.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Healthcare, Financial Services & Technology and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.0 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Actient Pharmaceuticals, LLC

Actient Pharmaceuticals is a specialty pharmaceutical company focused on therapeutics to improve patient outcomes. The company was formed to acquire pharmaceutical companies and products with a focus on select physician specialties. For more information, please visit www.actientpharma.com.



   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES