Otsuka Pharmaceutical Co., Ltd.’s $250 million acquisition of Neurovance, Inc.

McDermott Will & Emery acted as legal adviser to Neurovance, Inc. in its acquisition by a major Japanese pharmaceutical company Otsuka Pharmaceutical Co., Ltd. (OPC).

Under the terms of the merger agreement, Neurovance’s sellers received $100 million in upfront payments at closing, and will receive up to $150 million in additional payments contingent on achievement of development and approval milestones, as well as future additional payments contingent on achievement of sales milestones.

Following the consummation of the transaction, Neurovance will be an indirect wholly-owned subsidiary of Otsuka Pharmaceutical Co., Ltd.

McDermott Will & Emery has advised Neurovance, Inc. on the deal with a team led by partners William Díaz (picture), William J. Hutchens, Byron S. Kalogerou, Sarah Kitchell, Andrew C. Liazos, Veleka Peeples-Dyer, Alejandro Ruiz, Albert Sokol, Kristian A. Werling and Daniel N. Zucker

Involved fees earner: William Díaz – McDermott Will & Emery; Byron Kalogerou – McDermott Will & Emery; Veleka Peeples-Dyer – McDermott Will & Emery; Kristian Werling – McDermott Will & Emery; Albert Sokol – McDermott Will & Emery; William Hutchens – McDermott Will & Emery; Andrew Liazos – McDermott Will & Emery; Sarah Kitchell – McDermott Will & Emery; Daniel Zucker – McDermott Will & Emery; Alejandro Ruiz – McDermott Will & Emery;

Law Firms: McDermott Will & Emery;

Clients: Neurovance, Inc.;

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Author: Ambrogio Visconti