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Press release | June 7, 2012

Delphi advisor to ProStrakan on Orexo transaction

Delphi has advised ProStrakan on the Orexo transaction in which distribution rights for the drug Abstral® are divided between Orexo and ProStrakan.

Abstral® is an opiate which is used primarily for cancer patients suffering extreme pain. Abstral® has been on the European market since 2008 and now has about a quarter of the market. Last year, the drug was launched in North America. The transaction involves ProStrakan selling the distribution rights for North America back to Orexo whilst Prostrakan retains the rights to Europe and the rest of the world. In addition, ProStrakan buys out Orexo from the joint Swedish company ProStrakan AB. The value of the transaction is just over SEK 600 million.

“It has been incredibly rewarding and interesting to work with ProStrakan on such a major transaction in this important area” says Johan Hübner, partner at Delphi.

“Our advice concerned the buyout of the Swedish company but also Swedish law relating to the various licence and distribution agreements affected by the transaction. We have worked closely with the management of ProStrakan and Wragge & Co, who are ProStrakan’s English counsel.”

Delphi’s team, which was led by Johan Hübner, also included Peter Utterström, Sverker Bonde and Amanda Wassén.

 

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