Grupo Ferrer will acquire inhaled drug developer Alexza Pharmaceuticals for $0.90 per share in a deal that is expected to be completed by mid-2016, the two companies have announced. In February 2016, Alexza announced that it had signed a non-binding letter of intent regarding Ferrer’s acquisition offer.
Ferrer, which markets Alexza’s Adasuve inhaled loxapine in much of the world, became Alexza’s largest shareholder in 2014. In November 2015, a few months after announcing that it was considering strategic options, Alexza announced that it was reacquiring US rights to Adasuve from Teva.
Alexza President and CEO Thomas B. King commented, “We see Ferrer as the ideal company to acquire Alexza as we continue to strive toward global commercial success with Adasuve and to re-energize our Staccato-based product pipeline. Over the past four years, we have come to appreciate their professionalism, passion, dedication and commitment to Alexza’s technologies, products and people. With this combination, we feel that Alexza’s products will be well positioned for long-term success in serving important patient needs.”
Ferrer CEO Jordi Ramentol said, “We are pleased that Alexza, the company that created and developed Adasuve and the Staccato technology, will be part of Ferrer and we look forward to working with our new Alexza colleagues to continue creating significant value for patients worldwide. We firmly believe that the Staccato technology will change the lives of patients with severe mental and neurological disorders. At the same time it will help healthcare professionals to improve their management in the increasingly digitalized and personalized healthcare context.”
In addition to loxapine, Alexza has been developing inhaled formulations of alprazolam, zaleplon, and fentanyl using its Staccato platform.
Read the Alexza and Ferrer press release.
