Azurity Pharmaceuticals ("Azurity") announced today 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.
Strategic Benefits of the Acquisition:
●Expanded Therapeutic Portfolio – The integration of Covis' product portfolio and pipeline enhances Azurity's offerings across ten complex dosage forms and nine key therapeutic areas, including cardiovascular, respiratory, central nervous system, endocrinology, gastrointestinal, hematology, immunology, anti-infectives, and oncology.
●Global Footprint – The acquisition strengthens Azurity's global footprint, expanding its commercial presence to over 50 countries and enabling greater patient accessibility to life-changing treatments. Azurity and its subsidiaries will employ more than 800 colleagues across North America, Europe and Asia.
●Key Biopharma Partner of Choice – The combined company is positioned to be a key partner for global life sciences companies looking to develop and commercialize their products, providing partners access to its deep development capabilities and global commercial infrastructure.
●Accelerated Innovation – By combining expertise and resources, Azurity is positioned to advance innovative treatments furthering Azurity's mission to serve overlooked patients using a unique and accelerated development process – enabling scale and velocity.
●Next-Gen Commercial Model – The integrated company portfolio will benefit from Azurity's highly efficient and effective commercial model, combining data, analytics, and AI-driven digital capabilities to drive stakeholder engagement using an optimized omnichannel marketing approach.
"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."
Goldman Sachs served as financial advisor and Eversheds Sutherland and White & Case served as legal advisors to Azurity. Guggenheim Securities served as financial advisor to Covis and Reed Smith and A&O Shearman served as legal advisors to Covis.
About Azurity Pharmaceuticals:
Azurity Pharmaceuticals is a privately held company committed to delivering innovative, high-quality medi...
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