French pharmaceutical company, Juvisé has just bought worldwide commercial rights to Pylera from US biopharmaceutical company Abbvie.
Juvisé negotiated financing of €400 million ($408 million) with Société Générale as part of the deal and also the refinancing of its existing debt.
Pylera is an antimicrobial tri-therapy that helps gastro-intestinal Helicobacter pylori infections.
Lazard and Latham & Watkins served as financial and legal advisors for Juvisé Pharmaceuticals, whereas White & Case served as legal advisors for Société Générale.
Serious gastro-intestinal disease
Frédéric Mascha, founder and president of Juvisé Pharmaceuticals, said: “We are delighted to have successfully accomplished this transaction with AbbVie regarding Pylera, a high-quality medicine, crucial for patients suffering from a serious gastro-intestinal disease. We were also pleased to be able to count on the permanent and unwavering support of our long-term banking partner, Société Générale.”
The company says this is another example of Juvisé Pharmaceuticals establishing successful alliances with world class pharmaceuticals sectors. Previous transactions have been with Novartis and AstraZeneca.
Pylera, a 3-in-1 combination of antimicrobial products, is used for the treatment of patients with Helicobacter pylori infection and suffering from gastro-duodenal ulcer disease. The eradication of the pathogen agent has been shown to reduce the risk of peptic ulcers recurrence and gastric cancers.