AMRX Amneal Pharmaceuticals Holding Co

On December 30, 2021, Amneal Pharmaceuticals LLC, a Delaware limited liability company (“Amneal”), a direct subsidiary of Amneal Pharmaceuticals, Inc., a Delaware corporation (the “Company”), entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with certain entities affiliated with Saol International Limited, a Bermuda limited company (collectively, “Saol Therapeutics”), a private specialty pharmaceutical company, pursuant to which Amneal agreed to (among other things) acquire Saol Therapeutics’ baclofen franchise, including LIORESAL®, LYVISPAH^™ and a pipeline product under development (the “Acquisition”).

Consideration for the Acquisition includes: (i) approximately $83.5 million, paid at closing with cash on hand and (ii) potential royalty payments by Amneal based on annual net sales for certain acquired assets, beginning in 2023.

The Asset Purchase Agreement contains various representations, warranties and covenants that are customary in transactions of this type. Additionally, in connection with the closing of the Acquisition, the Asset Purchase Agreement provides that Amneal and Saol Therapeutics will enter into certain additional ancillary agreements, including a transition services agreement and certain other customary agreements. The closing of the Acquisition is subject to the satisfaction of customary closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, and client consents to the transfer of contracts.

The foregoing description of the Asset Purchase Agreement does not purport to be complete and is qualified in its entirety by reference the full text of the Asset Purchase Agreement, which is attached hereto as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated by reference herein.