Cerberus-backed Covis Completes Sale of Assets to Concordia for $1.2B
April 22, 2015
Covis Pharma, a portfolio company of Cerberus Capital Management, has completed the sale of a substantial drug portfolio to Concordia Healthcare (TSX: CXR) for $1.2 billion. The portfolio being acquired consists of 18 products that include branded pharmaceuticals, injectables and other authorized generics that address life threatening and serious medical conditions in cardiovascular, central nervous system, oncology and acute care markets. The deal was structured as an all-cash transaction that Concordia paid for through a mix of term loans, bonds and equity.