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Delphi advisor to ProStrakan on Orexo transaction
Delphi has advised ProStrakan on the Orexo transaction in which distribution rights for the drug Abstral® are divided between Orexo and ProStrakan.
Abstral® is an opiate which is used primarily for cancer patients suffering extreme pain. Abstral® has been on the European market since 2008 and now has about a quarter of the market. Last year, the drug was launched in North America. The transaction involves ProStrakan selling the distribution rights for North America back to Orexo whilst Prostrakan retains the rights to Europe and the rest of the world. In addition, ProStrakan buys out Orexo from the joint Swedish company ProStrakan AB. The value of the transaction is just over SEK 600 million.
“It has been incredibly rewarding and interesting to work with ProStrakan on such a major transaction in this important area” says Johan Hübner, partner at Delphi.
“Our advice concerned the buyout of the Swedish company but also Swedish law relating to the various licence and distribution agreements affected by the transaction. We have worked closely with the management of ProStrakan and Wragge & Co, who are ProStrakan’s English counsel.”
Delphi’s team, which was led by Johan Hübner, also included Peter Utterström, Sverker Bonde and Amanda Wassén.
Contact:
Johan Hübner
Partner/Advokat
Advokatfirman Delphi
Ph. +46 709-25 25 04
e-mail: johan.hubner@delphi.se
Peter Utterström
Partner/Advokat
Advokatfirman Delphi
Ph. +46 709-25 25 35
e-mail: peter.utterstrom@delphi.se
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Delphi has expertise in all core areas of commercial law. An important part is the corporate desk, with a large number of domestic and cross-border mergers & acquisitions and an extensive banking, finance and capital markets practice. The firm is also well established in high-tech related legal areas such as IT, telecommunications, intellectual property and life sciences. Additionally, Delphi’s public procurement, EU and competition practice is highly respected.
Clients are mainly in Scandinavia, Europe and North America. Delphi co-operates with law firms all over the world and has business in China and Eastern Europe. Delphi has approximately 190 employees of which about 140 are lawyers. Offices are in Stockholm, Göteborg, Malmö, Linköping and Norrköping.
