Business Deal

Azurity Pharmaceuticals Completes Acquisition of Covis Pharma

Azurity Pharmaceuticals announced the successful completion of its acquisition of Covis Group S.à r.l. ("Covis") from existing investors. With this acquisition, Covis is now a wholly-owned subsidiary of Azurity. This strategic acquisition reinforces Azurity's leadership in branded pharmaceuticals, harnessing the complementary strengths of both companies across multiple complex dosage forms and therapeutic areas. By combining expertise and resources, Azurity strengthens its ability to deliver medicines to overlooked patients on a global scale. "We are excited to welcome Covis Pharma to Azurity," said Ronald Scarboro, CEO of Azurity. "The efforts of colleagues at both companies, their devotion to overlooked patients, and our culture of execution have brought us together to build this unique, highly differentiated pharmaceutical company. I look forward to all that we will accomplish as we grow globally and embrace new opportunities, driven by our purpose." "I am delighted that Azurity recognized the accomplishments and potential of Covis, and am thankful for the tireless efforts of Covis colleagues in support of patients that benefit from the company's products," said Rajiv De Silva, Chairman of the Board of Covis. "I am confident that the two companies will be able to untap each other's highly complementary capabilities to accelerate development and commercialization of necessary medicines to underserved patients." "QHP Capital is proud to support Azurity in this acquisition, which aligns with our commitment to investing in life sciences and healthcare innovations," said Jeff Edwards, Partner at QHP Capital, the majority owner of Azurity. "It has been our privilege to support and enable Azurity from a small, limited product, US-only company at the start of our investment in 2018 to the global, large, diversified portfolio, high-growth company it is today. We are committed to further enabling Azurity for the significant growth its team is well positioned to execute."

Sur-Seal Acquires Kent Manufacturing, Expanding Healthcare Capabilities

Sur-Seal, a leader in custom-engineered converting and manufacturing solutions, has acquired Kent Manufacturing LLC, a Michigan-based third generation family company with a national reputation for excellence in the custom converting industry. This strategic partnership creates a powerful platform serving the rapidly growing healthcare market, with enhanced capabilities to deliver comprehensive converting and sealing solutions to this demanding sector. "The acquisition is a significant building block for Sur-Seal's exciting future," explains Pete Futia, Chief Executive Officer of Sur-Seal. "Kent's enhanced medical cleanroom capabilities and ISO-13485 quality management system will allow Sur-Seal to better serve healthcare customers. We look forward to combining our capabilities for a comprehensive offering." The acquisition of Kent also expands Sur-Seal's engineering capabilities and automotive IATF-16949 certification, which positions Sur-Seal as one of the only converters in North America with industry-leading technical certifications in the healthcare, automotive, and aerospace sectors. Further, the addition of manufacturing operations in Michigan allows Sur-Seal to bring its expertise and status as one of the largest 3M Preferred converters in North America to better serve customers throughout the region with its rapid delivery model. "Sur-Seal shares Kent's values in treating customers, suppliers and employees right. They bring resources, expertise, and opportunities that will allow Kent Manufacturing to grow, innovate and thrive in ways we couldn't achieve on our own," says Mike Muraski, former owner of Kent. "We also believe our customers will appreciate the expansion of capabilities including wide-web laminating, foam skiving, waterjet cutting, wide and narrow-web flatbed converting, and supply chain services including storage, kitting and parts assembly."

Sun Pharma to Acquire Checkpoint Therapeutics

Sun Pharmaceutical Industries Limited and Checkpoint Therapeutics, Inc. announced that they have entered into an agreement by which Sun Pharma will acquire Checkpoint, an immunotherapy and targeted oncology company. Checkpoint is a Nasdaq-listed commercial-stage company focused on developing novel treatments for patients with solid tumor cancers. Checkpoint has received approval from the U.S. Food & Drug Administration (FDA) for UNLOXCYT™ (cosibelimab-ipdl) for the treatment of adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC who are not candidates for curative surgery or curative radiation. Dilip Shanghvi, Chairman & Managing Director of Sun Pharma, said, "Combining UNLOXCYT, an FDA-approved anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma, with Sun Pharma's global presence means patients with cSCC may soon have access to an important, new treatment option. The acquisition further bolsters our innovative portfolio in onco-derm therapy." "I am proud of the dedication and passion of our team at Checkpoint that allowed us to achieve the first and only FDA-approved anti-PD-L1 treatment for patients with advanced cSCC, and we are excited to enter this transaction with Sun Pharma as the next step to bringing UNLOXCYT to cSCC patients in need of a differentiated immunotherapy treatment option," said James Oliviero, President and Chief Executive Officer of Checkpoint. "Sun Pharma is aligned with Checkpoint's commitment to improving the lives of skin cancer patients, and I believe this transaction will maximize value for our stockholders and provide accelerated access to UNLOXCYT in the United States, Europe and other markets worldwide."

Noramco Group Invests $25M in Sterile Injectable Expansion

The Noramco Group, an integrated North American-based API and drug product supply chain product and services provider, announced a $25 million investment in its Halo Pharma facility in Whippany, New Jersey, to establish sterile injectable manufacturing capabilities, including ready-to-use syringe, cartridge, and vial filling. This expansion aims to address critical capacity shortages in the US injectable supply chain and meet the growing demand from pharmaceutical companies seeking reliable domestic sterile manufacturing partners. With sterile injectables representing the fastest-growing segment of the pharmaceutical market, demand for commercial and clinical-scale capacity continues to outpace available supply. Many injectable products remain on the FDA’s drug shortage list, exacerbated by the surge in demand for biologics and by the critical needs of the U.S. hospital supply chain. The Noramco Group’s investment will provide branded and generic pharmaceutical companies with a North American-based solution for sterile injectable manufacturing, strengthening the domestic production of critical drugs and reinforcing supply chain security and reliability. “This investment is a significant step in our commitment to build on our position as one of the only fully integrated domestic supply options for our customers,” said Lee Karras, CEO of The Noramco Group. “We recognize the challenges facing the industry and are dedicated to providing solutions that address both immediate and long-term supply chain needs. We anticipate the new line to be qualified and operational within the next 12 months, ensuring we can support customers with the high-quality capacity they require. While this investment enhances our capabilities with contemporary technologies, with the addition of sterile manufacturing we remain committed to our already established and proven focus on manufacturing APIs, oral solid dose, and liquid dosage forms, which continue to be essential in meeting our customers’ needs.”

Jazz Pharmaceuticals to Acquire Chimerix

Jazz Pharmaceuticals plc announced the companies have entered into a definitive agreement for Jazz to acquire Chimerix for $8.55 per share in cash, representing a total consideration of approximately $935 million. The transaction has been approved by both companies and is expected to close in the second quarter of 2025. Chimerix’s lead clinical asset is dordaviprone, a novel first-in-class small molecule treatment in development for H3 K27M-mutant diffuse glioma, a rare, high-grade brain tumor that most commonly affects children and young adults. There are no U.S. Food and Drug Administration (FDA)-approved therapies specifically for H3 K27M-mutant diffuse glioma patients; radiation is the most common treatment approach. A New Drug Application (NDA) for accelerated approval of dordaviprone in recurrent H3 K27M-mutant diffuse glioma was recently accepted and granted Priority Review by FDA. FDA has set a target Prescription Drug User Fee Act (PDUFA) action date of August 18, 2025. If approved in the U.S., dordaviprone may be eligible for a Rare Pediatric Disease Priority Review Voucher (PRV). Separately, dordaviprone is being studied in the ongoing Phase 3 ACTION trial, evaluating its use in newly diagnosed, non-recurrent H3 K27M-mutant diffuse glioma patients following radiation treatment, potentially extending this treatment option into the front-line setting. “Adding dordaviprone to our oncology R&D pipeline will further diversify our portfolio with a medicine that addresses a significant unmet need with no other FDA-approved therapies and limited treatment options for this patient population. If approved, dordaviprone has the potential to rapidly become a standard of care for a rare oncology disease and also contribute durable revenue beginning in the near-term,” said Bruce Cozadd, chairman and chief executive officer, Jazz Pharmaceuticals. “We are encouraged by the dordaviprone clinical trial results to date and look forward to closing the proposed acquisition and working with our new colleagues from Chimerix to fully leverage our combined R&D and commercial expertise to deliver this novel therapy to patients, beginning as early as the second half of this year.” “We are excited to reach this agreement with Jazz Pharmaceuticals as they bring global scale to broaden our dordaviprone commercial strategy,” said Mike Andriole, President and CEO of Chimerix. “The transaction, if approved, provides the opportunity to advance access to dordaviprone to reach more patients globally. This announcement is the culmination of years of scientific work by our incredibly talented team, and will deliver significant and certain value to our shareholders.”

Boston Scientific announces agreement to acquire SoniVie Ltd

Boston Scientific Corporation announced it has entered into a definitive agreement to acquire SoniVie Ltd., a privately held medical device company that has developed the TIVUS™ Intravascular Ultrasound System. An investigational technology, the TIVUS system is designed to denervate nerves surrounding blood vessels to treat a variety of hypertensive disorders, including renal artery denervation (RDN) for hypertension. "Renal denervation for hypertension is an exciting medical advancement for the millions of patients it may help and is supported by positive results from contemporary clinical trials and ongoing research," said Lance Bates, senior vice president and president, Interventional Cardiology Therapies, Boston Scientific. "We believe the addition of the differentiated, ultrasound-based TIVUS system can complement our expansive interventional portfolio with a minimally invasive therapy for patients with hypertension and provides opportunity for future advancements in this space." As a strategic investor in SoniVie, Boston Scientific currently holds an equity stake of approximately 10 percent. Therefore, the transaction consists of an upfront payment of approximately $360 million for the 90 percent stake not yet owned and up to $180 million upon achievement of a regulatory milestone.* Boston Scientific anticipates the transaction to be completed in the first half of 2025, subject to customary closing conditions. On an adjusted basis, the company expects the transaction to be slightly dilutive to adjusted earnings per share (EPS) in 2025, and to offset this through internal cost efficiencies and trade-offs. On a GAAP basis, the transaction is expected to be more dilutive due to amortization expense and acquisition-related charges, except for a one-time gain to be recognized at closing associated with the company's previously held equity interest in SoniVie Ltd.

MolinaCares Pledges $1.4M to Expand Healthcare Access in Nevada

The MolinaCares Accord (“MolinaCares”), in collaboration with Molina Healthcare of Nevada (“Molina”), is announcing a $1.4 million commitment to improve access to care in Nevada. This latest investment builds on Molina’s $2.8 million commitment in 2024 that supported 29 community-based organizations and providers, bringing Molina’s total investment to over $5 million since 2022. “We know that nearly 70% of Nevadans live in communities officially designated as health professional shortage areas,” said Rob Baughman, plan president of Molina Healthcare of Nevada. “Our commitment is intended to increase access to critical physical and behavioral health care services for both rural and urban residents. These grants are a part of Molina’s collaborative engagement with local organizations to build stronger, healthier communities statewide.” Through its commitments, Molina has partnered with several organizations across the state to fund programs geared toward building and strengthening the health care workforce and enhancing access for all Nevadans. “As educators and providers, we are committed to equipping our health care workforce and addressing the unique health challenges faced by our rural communities,” said Gerald Ackerman, M.S., assistant dean of rural programs at the University of Nevada, Reno School of Medicine, one of the Molina grant recipient organizations. “We are pleased to have the opportunity to enhance programs that strengthen the capacity and sustainability of our health care system, positively contributing to job opportunities, access to care, and health care quality in Nevada.” As part of its latest $1.4 million commitment, Molina will be investing in partnerships focused on the following health priorities in Nevada: Molina’s partnerships aim to enhance access to in-person and telehealth care statewide with a special focus on rural Nevada. All 17 of Nevada’s counties have some type of health professional shortage designation. Molina and its partners are dedicated to enhancing the provider workforce in these counties by providing educational and training opportunities for providers and expanding the capacity of health care facilities to ensure providers feel supported and residents receive the best possible care.

A*STAR And MojiaBio To Develop Next-gen Sustainable Biomanufacturing Platform In Singapore

This initiative aims to produce eco-friendly bio-based molecules from low-cost, eco-friendly sources. Key benefits include: Cost-parity with conventional methods: Unlike existing bio-based molecules production, this initiative aims to achieve cost-parity with conventional processes by utilising low-cost renewable sources like methanol. Wide-ranging industry applications: The sustainable bio-based molecules produced can be used for wide-ranging industrial applications in textiles, automotive, personal care, and coatings industries. Boosting Singapore's green economy: This effort strengthens Singapore's leadership in the global bioeconomy, which can lead to high-value job creation in sustainable biomanufacturing. SINGAPORE – MojiaBio, a leading innovator in green chemistry and sustainable biomanufacturing, will be developing an SGD 44.8 million state-of-the-art Sustainable Biomanufacturing Technology Platform (SBTP) with the Agency for Science, Technology and Research (A*STAR). By integrating advanced synthetic biology and bioprocessing innovations, the SBTP aims to position Singapore as a global leader in sustainable biomanufacturing, accelerating the transition to a circular bioeconomy and net-zero future. Unlike other existing bio-based molecules in the market, the SBTP aims to pioneer the production of a range of high-value bio-based molecules that are cost-competitive and serve the needs of various industries. This is made possible due to the innovative use of cost-effective sources like methanol and ethylene glycol, which enables the platform to produce scalable, sustainable alternatives to conventional chemical processes. This includes the production of 1,3-propanediol (PDO), a key ingredient for a broad array of industries such as skincare products, coatings and biodegradable plastics. Building Singapore's Capabilities in Green Biomanufacturing

Sagility Acquires BroadPath Healthcare Solutions to Expand Global Operations

Sagility, a leading tech-enabled business operations solutions and services provider in the healthcare sector announced its acquisition of BroadPath Healthcare Solutions, a US healthcare focused services company, headquartered in Tucson, Arizona, US. BroadPath operates a work-from-home delivery model with over 1600 employees located across the US and Philippines. Its service portfolio includes member engagement, member acquisition, claims and appeals administration, provider enrollment and credentialing. The acquisition of BroadPath aligns with Sagility's strategy to diversify its client base and add new capabilities to its services portfolio. This acquisition significantly expands Sagility's market presence, adding more than 30 new clients. It further strengthens Sagility's position among the top ten largest health plans in the US. In addition, the acquisition gives Sagility the opportunity to cross-sell its broad service offerings to several mid-market clients including payers, third-party administrators, pharmacy benefit managers and providers. BroadPath's member acquisition services will be a new capability addition to Sagility's offerings. BroadPath has been a pioneer in the work-from-home model even before the COVID-19 pandemic. Their proprietary Bhive platform improves employee engagement and optimizes operating metrics in a work-from-home model ensuring superior experience for employees and clients alike. "We are very excited to add a sizeable number of clients through the acquisition of BroadPath. Their unrelenting focus on clients and employees aligns well with our beliefs and we are confident of seamlessly integrating BroadPath's clients and employees into our larger organization. The strong operating leadership team at BroadPath, with deep relationships across health plans, will remain with the business and continue to drive success for clients," said Ramesh Gopalan, Managing Director and Group Chief Executive Officer of Sagility. "Our clients will benefit from the opportunity to utilize the broader set of services and transformational capabilities that Sagility offers. Sagility brings advanced capabilities such as automation, analytics, and artificial intelligence which will enable our clients to further drive efficiencies and improve member engagement," said Don Hubman, Chief Executive Officer of BroadPath Healthcare Solutions.

WuXi Biologics Recognized as 2025 ESG Top-Rated Company by Morningstar Sustainalytics

WuXi Biologics ,a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), announced it has been recognized as a 2025 Industry and Regional ESG Top-Rated Company by Morningstar Sustainalytics, marking the fifth consecutive year the company has scored among the highest in ESG Risk Ratings. Sustainalytics, a leading ESG data, research, and ratings firm, supports global investors with the development and implementation of responsible investment strategies. Its 2025 ESG Risk Ratings cover more than 15,000 companies across 42 industries worldwide, with Top-Rated Badges given to those companies with the strongest ESG achievements. WuXi Biologics ranks in the top 1% of companies assessed in the pharmaceutical industry. Dr. Chris Chen, CEO of WuXi Biologics and Chairman of its ESG Committee, commented, "We are very pleased to once again receive this honor from Morningstar Sustainalytics. It is a reflection and recognition of our ongoing commitment to enhancing sustainability capabilities. As a global leader in Green CRDMO, we consistently deliver our own ESG excellence while enabling partners worldwide to fulfill their ESG commitments, jointly working with all stakeholders to promote responsible practices throughout the entire value chain." In recent years, WuXi Biologics' ESG strategy and initiatives have made significant progress and gained widespread recognition. The Company was included in the UNGC 20 Case Examples of Sustainable Development for 20 Years Collection for its world-leading green biologics solutions; granted an MSCI AAA Rating and included in Dow Jones Sustainability Indices for two consecutive years; awarded the distinguished Platinum Medal by EcoVadis; named to the CDP Water Security "A list" and awarded an "A-" CDP Climate Change score; selected as a Constituent of FTSE4Good Index Series; and listed in the Hang Seng ESG 50 Index.