finance.yahoo.com

Teva Backs up to $125M bid for BioXcel assets and IGALMI at-home use

Teva Pharmaceutical Industries logoTeva Pharmaceutical Industries
Sig3.18Sen+2.35Env0.00Soc+0.95Gov+1.20
BioXcel Therapeutics logoBioXcel Therapeutics
Sig3.55Sen-2.25Env0.00Soc+1.20Gov-3.10

Teva will back a bid of up to $125M—$57.5M cash at closing plus up to $67.5M contingent cash—and assume specified liabilities for BioXcel assets, including IGALMI and the BXCL501 program. A pending supplemental NDA would expand IGALMI to at-home acute agitation treatment in adults, but FDA approval could be rejected or narrowed. Teva’s unit will act as stalking-horse in a court-supervised Chapter 11 auction.

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