Concordia Healthcare

Concordia Healthcare Corp
Public company
Traded as TSX: CXR
Industry Pharmaceutical industry
Founded 2012
Headquarters Canada
Key people
 Mark L. Thompson (President & CEO)
Leith Tessy (CFO)
Wayne Kreppner (COO)
Products Kapvay, Zonegran, Donnatal
Revenue Increase $122 million (2014)[1]
Website

Concordia Healthcare Corp is a publicly traded pharmaceutical company based in Canada. The company focuses on Attention-Deficit Hyperactivity Disorder, cancer and asthma. The company was founded in December 2012 [2] and has since pursued a corporate strategy of growth-through acquisition, much like fellow Canadian company Valeant Pharmaceuticals. However, Concordia utilizes Cardinal Health as its main distribution chain partner, and has no reliance on specialty pharmacies. The company also focuses on acquiring legacy pharmaceutical compounds which are usually off patent.[3] Concordia Healthcare Corp currently comprises three companies: Concordia Pharmaceuticals Inc., Pinnacle Biologics Inc., and Complete Medical Homecare Inc.[4]

Corporate history

2013

In May the company acquired Pediatric products (Kapvay, Orapred ODT & OS) from Shionogi Inc.[5][6] In October the company acquired Complete Medical Homecare,[7] then in December the company completed the takeover of Mercari Acquisition Corp.[8] as well as Pinnacle Biologics Inc,[9] and began trading on the Toronto stock exchange.

2014

In January the company completed a five year exclusive distribution deal with Lachlan Pharma Holdings to distribute Ulesfia United States.[10] In March, the company entered into a definitive agreement to acquire the irritable bowel syndrome drug, Donnatal, from Revive Pharmaceuticals for $200 million and 4,605,833 common shares of company stock.[11] The deal was completed in May. In September the company entered into its first collaboration with Orphan Canada.[12] In the same month the company announced it would acquire Zonegran in the United States and Puerto Rico, for $90 million.[13]

2015

In March the company announced its largest acquisition to date when it agreed to buy the majority of assets of Covis Pharma Sarl and Covis Injectables Sarl for $1.2 billion in cash.[14][15]

In September, Condordia paid European private equity firm Cinven $3.5 billion in cash and shares for UK-based global out-of-patent prescription pharmaceuticals firm Amdipharm Mercury - sometimes abbreviated to AMCo. The deal would "uniquely position the combined company as a leading, international pharmaceutical company with extensive geographic reach", said Concordia chief executive Mark Thompson.[16][17]

References

  1. ↑ "Concordia Healthcare Announces Fourth Quarter and Fiscal 2014 Results". concordiarx.com.
  2. ↑ "Milestones". concordiarx.com.
  3. ↑ Stefanie Batcho-Lino (7 April 2015). "Valeant Clone Concordia Top Canada Stock as CEO Eyes Deal". Bloomberg.com.
  4. ↑ "Overview - Concordia Healthcare Corp.". concordiarx.com.
  5. ↑ http://www.shionogi.co.jp/en/company/news/2013/pmrltj0000001q6t-att/e_130508.pdf
  6. ↑ "Concordia acquires several pediatric products from Shionogi". pharmamedtechbi.com.
  7. ↑ "Complete Medical Homecare, Inc. And Midwest Medical Services, Inc. And Global Medical Direct LLC: Private Company Information - Businessweek". Businessweek.com.
  8. ↑ "Mercari Acquisition Corp. - Mercari Acquisition Corp. announces proposed qualifying transaction with Concordia Healthcare Inc.". newswire.ca.
  9. ↑ Concordia Healthcare Corp. (24 December 2013). "Concordia Healthcare Corp. Announces Acquisition Of Pinnacle Biologics, Inc.". prnewswire.com.
  10. ↑ Concordia Healthcare Corp. (6 January 2014). "Concordia Healthcare Corp. announces Exclusive Distribution Agreement for Ulesfia® with Lachlan Pharma Holdings". prnewswire.com.
  11. ↑ Concordia Healthcare Corp. (20 March 2014). "Concordia Healthcare Announces Agreement to Acquire Donnatal®". prnewswire.com.
  12. ↑ "Concordia Healthcare Corp. enters into collaboration agreement with Orphan Canada". Yahoo Finance. 2 September 2014.
  13. ↑ "Concordia Healthcare Corp. - Concordia Healthcare Announces Agreement to Acquire Zonegran® in the United States and Puerto Rico". newswire.ca.
  14. ↑ Scott Deveau (9 March 2015). "Concordia Agrees to Buy Covis Health Assets for $1.2 Billion". Bloomberg.com.
  15. ↑ Judy McKinnon (9 March 2015). "Concordia Healthcare to Buy Some Assets of Covis Pharma". WSJ.
  16. ↑ Concordia agrees to buy Amdipharm Mercury in $3.5 billion deal, Ciara Linnane, Marketwatch, New York, 8 September 2015.Retrieved: 19 September 2015.
  17. ↑ Cinven to sell AMCo to Concordia Healthcare Corp, Private Equity Wire, St Helier, Jersey, 8 September 2015.Retrieved: 19 September 2015.
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