Akorn Catches a Strong Tailwind in VersaPharm Deal
May 12, 2014
Tailwind Capital has agreed to sell VersaPharm for $440 million in cash to Akorn (NASDAQ: AKRX). A developer and marketer of multi-source prescription pharmaceuticals, VersaPharm focuses on dermatology, tuberculosis and hemophilia, with a pipeline of over 20 products. Akorn intends to finance the deal with $445 million in term loan borrowings; JPMorgan Chase is providing fully committed financing. Tailwind has backed VersaPharm since 2007.