TORONTO, May 22, 2015 /PRNewswire/ - Merus Labs
International Inc.("Merus" or the "Company") [TSX:
MSL, NASDAQ: MSLI] is pleased to announce that one of its wholly
owned subsidiaries has signed a definitive agreement to
acquire the rights to manufacture, market, and sell two
established specialty pharmaceutical products in certain European
and other markets.
The products are being divested by Novartis Pharma AG,
a leading global pharmaceutical company for a purchase price of
US$29.5 million. In 2014, the
products had sales of approximately US$10
million in the applicable territories. Merus will fund
the acquisition with available cash.
Salagen ® (pilocarpine hydrochloride)
is indicated for xerostomia following radiation
therapy, in addition to Sjogren's syndrome. Estraderm MX®
is a transdermal delivery format of estradiol used for
symptomatic treatment of menopause.
"This transaction will expand our specialty pharmaceutical
product line and leverage our strong European platform. It
also demonstrates our ability to execute deals and realize value
from our accelerated business development efforts" commented
Barry Fishman, Chief Executive
Officer.
About Merus Labs International Inc.
Merus Labs is a specialty pharmaceutical company focused on
acquiring established products. The Company leverages its expertise
in European and North American markets to optimize the value of
underdeveloped pharmaceutical assets.
Cautionary Statement
Certain statements contained in this press release may
constitute "forward-looking statements" within the meaning of
Section 21E (i) (1) of the United States Securities Exchange Act of
1934. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause Merus' actual
results to be materially different from any future results
expressed or implied by these statements. Such factors include the
following: general economic and business conditions, changes in
demand for Merus' products, changes in competition, the ability of
Merus to complete future acquisitions and to integrate these
acquisitions into its business, Merus' ability to complete future
debt and/or equity financings required to complete future
acquisitions, interest rate fluctuations, currency exchange rate
fluctuations, dependence upon and availability of qualified
personnel and changes in government regulation. In light of these
and other uncertainties, the forward-looking statements included in
this press release should not be regarded as a representation by
Merus that Merus' plans and objectives will be achieved.
These forward-looking statements speak only as of the date of
this press release, and we undertake no obligation to update or
revise the statements.
SOURCE Merus Labs International Inc.