Assertio Holdings, Inc. Closes Spectrum Pharmaceuticals Transaction
31 Julho 2023 - 8:27PM
Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq:
ASRT), a specialty pharmaceutical company offering differentiated
products to patients, today announced that it has closed the
proposed acquisition of Spectrum Pharmaceuticals, Inc. (“Spectrum”)
(Nasdaq: SPPI), a biopharmaceutical company focused on novel and
targeted oncology.
Assertio intends to provide updated guidance for
the combined business as part of its second quarter results call on
August 3.
“We are pleased to close the acquisition of
Spectrum and its ROLVEDON® (eflapegrastim-xnst) Injection asset, as
well as bring onboard an incredible commercial team with proven
successful results,” said Dan Peisert, President and Chief
Executive Officer of Assertio. “We believe this combination will
expand and diversify Assertio’s revenue base, complement our
digital non-personal marketing capabilities and enhance our IP
portfolio as we continue to scale our platform and its
capabilities. We look forward to building on the successful early
results in the ROLVEDON® (eflapegrastim-xnst) Injection launch for
the remainder of 2023, driving the business toward our goal of
accretive contribution to our Adjusted EPS and operating cash flow
in 2024.”
As part of the closing, Assertio also announced
the appointment of Jeffrey Vacirca, MD, FACP, to its Board of
Directors. Vacirca qualifies as an independent director under
Nasdaq rules.
Jeffrey Vacirca, MD, FACP, is a renowned cancer physician and
visionary leader with extensive experience and commitment to
community oncology. Dr. Vacirca assumed the role of CEO and
Chairman of the Board of New York Cancer & Blood Specialists
(NYCBS) in 2008. After two years, the practice emerged as a
stronger unified group of physicians dedicated to reinventing
themselves as the premier cancer care deliverers of New York.
He has led NYCBS through an unparalleled period of
transformation and incredible growth to become the leading oncology
practice that now sees nearly a million patients a year throughout
more than 30 oncology locations and 35 hospital affiliations.
Dr. Vacirca takes action against key billings, including abuse
of pharmacy benefit managers (PBMs) and sequester cuts. He formed
the Conquering Cancer PAC, which advocates for cancer patients and
strives to ensure access and availability for all patients no
matter where they live.
He also serves on the board of directors of Annexus Health,
Spectrum Pharmaceuticals, OneOncology, and the American Red Cross
of Greater New York. Most of his roles in these remarkable
companies focus on legislative advocacy for the cost of cancer care
and access. Dr. Vacirca is the immediate past president of the
Community Oncology Alliance (COA) and continues to be a member of
their executive committee. He serves on the board of Scientific
Advisory for Caris Life Sciences, and is president and co-founder
of the National Translational Research Group. He has also been part
of early funding for remarkable companies, including Cedar, Thyme
Care, and Sherpa Health. Dr. Vacirca co-founded Odonate
Therapeutics in 2016.
Dr. Vacirca is the founder and Chairman of the Board of
Directors of the New York Cancer Foundation, which provides
financial assistance to patients undergoing treatment for cancer.
In addition, Dr. Vacirca is the Medical Director of Oncology
Network Development at Mount Sinai Health Network and Lab Director
for the Long Island Association for AIDS Care (LIAAC).
Dr. Vacirca was honored as Humanitarian of the Year by the
American Red Cross and received its Corporate Leadership Award on
behalf of NYCBS. He was awarded the Red Door Award for Leadership
and Cancer Advocacy by the Red Door Community and received the
Founders Medalist by The Brooklyn Hospital. Dr. Vacirca also
received the Theodore Roosevelt Award for outstanding dedication to
patient care and was named Newsday's Top Doctor. He was also
honored for his role in enabling the Long Island Association for
AIDS Care staff to bring state-of-the-art HIV testing to New
York.
About Assertio
Assertio is a specialty pharmaceutical company
offering differentiated products to patients utilizing a
non-personal promotional model. We have built and continue to build
our commercial portfolio by identifying new opportunities within
our existing products as well as acquisitions or licensing of
additional approved products. To learn more about Assertio, visit
www.assertiotx.com.
Assertio Forward Looking Statements
Statements in this communication that are not
historical facts are forward-looking statements that reflect
Assertio's current expectations, assumptions and estimates of
future performance and economic conditions. These forward-looking
statements are made in reliance on the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements relate to, among other things, the
preliminary, unaudited financial results included in this press
release, future events or the future performance or operations of
Assertio, including our ability to realize the benefits from our
operating model, successfully acquire and integrate new assets and
explore new business development initiatives. All statements other
than historical facts may be forward-looking statements and can be
identified by words such as "anticipate," "believe," "could,"
"design," "estimate," "expect," "forecast," "goal," "guidance,"
"imply," "intend," "may", "objective," "opportunity," "outlook,"
"plan," "position," "potential," "predict," "project,"
"prospective," "pursue," "seek," "should," "strategy," "target,"
"would," "will," "aim" or other similar expressions that convey the
uncertainty of future events or outcomes and are used to identify
forward-looking statements. Such forward-looking statements are not
guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond the
control of Assertio, including the risks described in Assertio's
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed
with the U.S. Securities and Exchange Commission ("SEC") and in
other filings Assertio makes with the SEC from time to time.
Investors and potential investors are urged not to place undue
reliance on forward-looking statements in this communication, which
speak only as of this date. While Assertio may elect to update
these forward-looking statements at some point in the future, it
specifically disclaims any obligation to update or revise any
forward-looking-statements contained in this press release whether
as a result of new information or future events, except as may be
required by applicable law.
Assertio Investor Contact Matt KrepsDarrow
AssociatesM: 214-597-8200mkreps@darrowir.com
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