trending Market Intelligence /marketintelligence/en/news-insights/trending/ws72fs1hwlqwvo9ntmxewg2 content esgSubNav
In This List

Vernalis scraps collaboration deal with Tris Pharma amid restructuring

Blog

Baird Research is Now Exclusively Available in S&P Global’s Aftermarket Research Collection

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity


Vernalis scraps collaboration deal with Tris Pharma amid restructuring

Vernalis Plc terminated a collaboration agreement with Tris Pharma Inc. as it closes its U.S. commercial operations.

The U.K.-based company previously agreed to develop and commercialize prescription cough and cold medicines with Tris Pharma.

Vernalis will pay $10 million in connection with the termination and is now free from all future payment obligations stated in the deal.

Furthermore, Vernalis has transferred the rights, along with the new drug application, for Tuzistra, which is intended to treat cough and respiratory symptoms associated with allergies or the common cold.

The company will still receive royalties on the drug's sales for a 10-year period, as well as on the unapproved drugs CCP-07 and CCP-08.

In relation to its strategic review, Vernalis said it has received several acquisition offers and has engaged Evercore as a financial adviser for the potential sale of the company.