Signed an agreement with Baxter International Inc. for the sale of Sigma Tau Pharma Ltd. This was communicated by Sigma Tau Finanziaria, a holding company in the pharmaceutical sector.
The final agreement provides for the transfer of 100% of the share capital of Sigma Tau Pharma Ltd, the company that holds the rights to the anticancer drug Oncaspar, as well as some research projects, to the Bioscience sector of Baxter International. Under the terms of the transaction, which is expected to close in the third quarter of the year, Baxter will acquire “100% of Sigma Tau Pharma Ltd shares and certain Oncaspar related businesses for $900 million, before certain adjustments including net working capital.
_.jpeg)
At the heart of the agreement is a first-line biological drug indicated as a component of polychemotherapy schemes for the treatment of acute lymphoblastic leukemia, a cancer of the lymphatic cells, which in industrialized countries corresponds to approximately 30% of all cancers diagnosed in children under of 15 years of age. The transaction provides that Oncaspar will be able to benefit from the international commercial and distribution network of Baxter International Inc., to give access to the drug to a greater number of patients worldwide.
Patients will also benefit from new formulations under development and expansion to new therapeutic indications. At the closing of the transaction, Sigma Tau and Baxter will also sign a production agreement according to which Sigma Tau will continue to produce the drug Oncaspar at the Indianapolis (USA) plant for many years.
