
Israel-based RedHill Biopharma (Nasdaq: RDHL) on Monday announced the divestment of its 70% stake in the Talicia business to a subsidiary of Apotex Health (TSX: APTX) for an upfront payment of $18 million plus up to an additional $35 million in potential payments based on worldwide net sales milestones.
In return, Apotex will receive RedHill’s 70% interest in Talicia, following Apotex’s prior acquisition of Cumberland Pharmaceuticals US branded business, which included Cumberland’s 30% ownership in Talicia.
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