Concordia acquires Covis Pharma commercial assets for $1.2bn

These products include 12 branded products, five authorized generic contracts and a product distributed by a third party in Australia pursuant to the terms of a distribution agreement.

Covis drug portfolio includes branded pharmaceuticals, injectables and authorized generics for life threatening and other serious conditions in the cardiovascular, central nervous system (CNS), oncology and acute-care markets.

Concordia CEO Mark Thompson said: "The portfolio of products we acquired from Covis feature stable revenue, strong margins and free cash flow.

"These asset attributes strengthen our financial base, which should support our plans to continue building Concordia through organic growth and potentially more accretive, disciplined acquisitions."

Key products in this portfolio are Nilandron, designed to treat metastatic prostate cancer; Dibenzyline for pheochromocytoma; Lanoxin for mild-to-moderate heart failure and atrial fibrillation; and, Plaquenil to treat lupus and rheumatoid arthritis.