RedHill sells 70% Talicia stake to Apotex for $18 million upfront

  • RedHill sold its 70% Talicia interest to an Apotex Health Corp. subsidiary.
  • The agreement provides $18 million upfront and up to $35 million in milestones.
  • RedHill shares rose 95.17% to $1.29 on Monday, with 68.7 million traded.

RedHill Biopharma has divested its 70% interest in Talicia to an Apotex Health Corp. subsidiary for $18 million in upfront cash and up to $35 million in potential worldwide net sales milestone payments. Apotex will combine the stake with the 30% Talicia interest it obtained through its acquisition of Cumberland Pharmaceuticals Inc.'s U.S. branded business. RedHill said the transaction strengthens liquidity and supports a commercial strategy focused on larger gastrointestinal product opportunities and revenue growth. Shares rose 95.17% to $1.29 on Monday, with 68.7 million shares traded, while remaining 53.8% below their 52-week high, according to Benzinga Pro. RedHill also highlighted development progress for RHB-102, or Bekinda, including its potential development through the accelerated FDA 505(b)(2) route as a once-daily oral ondansetron treatment for gastrointestinal side effects associated with GLP-1/GIP receptor agonists.

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