Knight Therapeutics Completes Majority Acquisition of Grupo Biotoscana
Knight Therapeutics Inc. has completed the acquisition of a 51.2% interest in Grupo Biotoscana. The deal establishes Knight as a premier specialty pharmaceutical company in Pan-America (ex-US).
Montreal, Canada – Knight Therapeutics Inc. announced on November 29, 2019, the closing of its acquisition of a 51.2% interest in Biotoscana Investments S.A. (GBT). This transaction positions Knight Therapeutics as a leading specialty pharmaceutical company across the Pan-American region, excluding the United States.
The acquisition involved a cash consideration of BRL 596 million (approximately C$187 million) to a controlling shareholder group. Knight Therapeutics will now initiate a mandatory tender offer to acquire the remaining 48.8% of GBT from public shareholders on similar terms. The total equity purchase price for 100% of GBT is anticipated to be BRL 1,164 million (approximately C$365 million).
Grupo Biotoscana is a biopharmaceutical group operating in Latin America with a focus on high-growth market segments including oncology, onco-hematology, and infectious diseases. GBT currently has operations in 10 Latin American countries through its subsidiaries.
Knight Therapeutics CEO Jonathan Ross Goodman stated that the closing of this transaction represents a significant step in executing the company's strategy to build a specialty pharmaceutical enterprise for the "Rest of World" markets. The company aims to complete the full acquisition of GBT.