Knight Therapeutics Announces Closing of Previously Announced Acquisition of Paladin

Core Insights - Knight Therapeutics Inc. has successfully completed the acquisition of the Paladin business for approximately $107 million in cash, which includes $22.3 million allocated for inventory [1][2] - The acquisition is expected to enhance Knight's growth trajectory in Canada, positioning it as a significant revenue contributor over the next two years [3] Financial Details - The closing payment of $107 million was reduced by a holdback amount of $15.4 million, with $10 million potentially being released under specific conditions and $5.4 million earmarked for settling certain liabilities [2] - Future contingent payments of up to $15 million may be made upon achieving specific sales milestones [2] Strategic Outlook - The integration of Knight's Canadian business with the Paladin and Sumitomo portfolios is anticipated to create critical mass and change the growth trajectory of the company [3] - Knight remains well-positioned to continue acquiring, in-licensing, developing, and commercializing pharmaceutical products in Latin America and Canada following the closure of both Paladin and Sumitomo acquisitions [3] Company Overview - Knight Therapeutics Inc. is a specialty pharmaceutical company based in Montreal, Canada, focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America [4] - The company's Latin American subsidiaries operate under the names United Medical, Biotoscana Farma, and Laboratorio LKM [4]