Osmotica Pharmaceuticals Plc /Legacy Business/

BRIDGEWATER, N.J., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Osmotica Pharmaceuticals plc (Nasdaq: OSMT) (“Osmotica” or the “Company”), a specialty pharmaceutical company, today announced that it has closed the previously announced sale of its legacy business, including certain of the Company’s US subsidiaries dedicated to the legacy business (Osmotica Pharmaceutical US LLC, Vertical Pharmaceuticals, LLC, Trigen Laboratories, LLC) and its Marietta, Georgia, manufacturing facility, to Alora Pharmaceuticals, LLC (“Alora”), effective August 27, 2021. The divestiture is central to the Company’s strategy to focus its efforts and resources on UPNEEQ, the first and only FDA-approved product for the treatment of acquired ptosis (droopy eyelid) in adults. The proceeds of the sale will be used to retire a substantial portion of the Company’s outstanding debt. Total closing proceeds received for the transaction were approximately $111 million, subject to customary post-closing adjustments. “With the divestiture of our legacy business now complete, we can focus fully on accelerating the commercial expansion of UPNEEQ. Adoption and utilization of UPNEEQ has continued to grow among eye care professionals as we seek to create a new category in ocular aesthetics. This is an exciting time for the Company and for the brand, as we work to capture the full potential of this unique asset,” stated Brian Markison, CEO of Osmotica. “Since the initial announcement of the acquisition, we have worked closely with the Osmotica, Vertical and Trigen teams to ensure a smooth transition of the businesses to the Alora family,” added Art Deas, CEO of Alora. “We look forward to growing the Vertical and Trigen line of products and expanding the production of the Marietta, Georgia facility.” Barclays Bank PLC and Jefferies LLC acted as financial advisors, and Ropes & Gray LLP is acted as legal advisor to Osmotica. TAP Advisors acted as exclusive financial advisor, and Nelson Mullins Riley & Scarborough LLP acted as legal advisor, to Alora on the transaction. CIBC Bank USA arranged financing for the acquisition. About Osmotica Pharmaceuticals Osmotica Pharmaceuticals plc (Nasdaq: OSMT) is a specialty pharmaceutical company focused on the commercialization and development of products that target markets with underserved patient populations. RVL Pharmaceuticals, Inc. is the Company’s ophthalmic subsidiary supporting UPNEEQ®.

BRIDGEWATER, N.J., June 25, 2021 (GLOBE NEWSWIRE) — Osmotica Pharmaceuticals, plc (Nasdaq: OSMT), a fully integrated biopharmaceutical company, today announced that it has entered into a definitive Purchase and Sale Agreement with Alora Pharmaceuticals, LLC pursuant to which Alora will acquire Osmotica’s portfolio of legacy products and its Marietta, Georgia manufacturing facility, for up to $170 million. “Today’s announcement is a meaningful step in the transformation of our business and aligns with our strategy of building a portfolio of growth assets in ocular aesthetics,” said Brian Markison, CEO of Osmotica Pharmaceuticals. “The legacy business has been an important part of our evolution, and we would like to recognize the excellent performance of our employees as they have remained focused throughout this process. The proceeds generated by the sale will be used to retire a substantial portion of our outstanding indebtedness and position us to accelerate the commercialization efforts of our flagship product, UPNEEQ. Since the introduction of UPNEEQ, our confidence in the brand has continued to grow, and we believe that this is the right time to further focus on this tremendous asset. “Alora Pharmaceuticals is an excellent home for our legacy business given its diverse portfolio and dedication to high-quality branded and generic products,” added Markison. “Alora Pharmaceuticals is excited to welcome the Osmotica team to our growing company. This acquisition will immediately bolster our platform of generic and branded product lines and will contribute to the long-term growth of our contract research and development and manufacturing capabilities,” said Art Deas, CEO of Alora. The Boards of Directors of both Osmotica and Alora have approved the transaction, which is expected to close in the third quarter of 2021. Barclays Bank PLC and Jefferies LLC are acting as financial advisors, and Ropes & Gray LLP is acting as legal advisor to Osmotica. TAP Advisors is acting as exclusive financial advisor, and Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Alora on the transaction. About Osmotica Pharmaceuticals Osmotica Pharmaceuticals plc (Nasdaq: OSMT) is a fully integrated biopharmaceutical company focused on the development and commercialization of specialty products that target markets with underserved patient populations. RVL Pharmaceuticals, Inc. is the Company’s ophthalmic subsidiary supporting UPNEEQ®. Vertical Pharmaceuticals, LLC represents the Company’s diversified branded portfolio and Trigen Laboratories, LLC represents the Company’s non-promoted products, including complex generic formulations. Osmotica has operations in the United States and Hungary. About Alora Pharmaceuticals Alora is a Specialty Pharmaceutical company located in Alpharetta, Georgia that develops, manufactures, and markets a growing portfolio of prescription products. Alora is the parent company for three distinct subsidiaries, Avion Pharmaceuticals, LLC, Acella Pharmaceuticals, LLC and Sovereign Pharmaceuticals. Avion Pharmaceuticals’ product expertise encompasses the spectrum of lifestyle needs across the life cycle of a woman from pregnancy through menopause and now progressing into new specialty therapeutic disease state categories. Acella Pharmaceuticals’ diverse portfolio helps patients with a variety of healthcare needs. Acella’s product line supports the areas of endocrinology, dermatology, urology, hematology, nutritional supplementation, and cough/cold. Finally, our growing manufacturing capabilities and expertise is provided by Sovereign Pharmaceuticals.