Azurity Pharmaceuticals completes acquisition of Covis Pharma
Deal News | Mar 14, 2025 | PR Newswire Cision Azurity Pharmaceuticals
Azurity Pharmaceuticals, based in Woburn, Massachusetts, has successfully completed the acquisition of Covis Pharma, making it a wholly-owned subsidiary. This strategic acquisition is set to enhance Azurity's leadership in branded pharmaceuticals by merging strengths across various complex delivery forms and therapeutic areas, including cardiology, respiratory, CNS, and more. With the integration of Covis' product portfolio, Azurity expands its market offerings and global presence, reaching over 50 countries and employing more than 800 staff across North America, Europe, and Asia. The company aims to emerge as a vital partner for global life sciences ventures, bolstering its capacity for innovation and drug development processes to serve overlooked patient populations. The acquisition is backed by QHP Capital, aligning with its investment focus on biopharmaceuticals and healthcare innovations, transforming Azurity from a US-centric company into a global pharmaceutical entity. Financial and legal advisory was provided by prominent firms including Goldman Sachs, Guggenheim Securities, and Eversheds Sutherland.
Sectors
- Pharmaceuticals
- Biotechnology
- Investment and Private Equity
Geography
- United States – Azurity Pharmaceuticals is based in Woburn, Massachusetts, indicating the company's origin and headquarters.
- Europe – The acquisition expands Azurity's commercial presence significantly in European markets.
- Asia – Azurity's global expansion includes increased operations and market presence in Asia.
Industry
- Pharmaceuticals – The acquisition involves Azurity Pharmaceuticals and Covis Pharma, placing them within the pharmaceuticals sector focused on drug development and distribution.
- Biotechnology – The emphasis on therapeutic areas and innovative drug delivery indicates the integration of biotechnology in enhancing pharmaceutical products.
- Investment and Private Equity – QHP Capital's role as a supporter and investor highlights the sector of investment, particularly in biotechnology and healthcare innovations.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Azurity Pharmaceuticals | Acquiring Company | Company | A private pharmaceutical company dedicated to providing innovative, high-quality medications for underserved patients. |
| Covis Pharma | Target Company | Company | A pharmaceutical company being acquired, known for its therapeutic products across multiple complex delivery forms. |
| QHP Capital | Majority Owner, Financial Support | Company | An investor specializing in biosciences and healthcare, backing Azurity in its acquisition move. |
| Goldman Sachs | Financial Advisor | Company | Provided financial advisory services to Azurity Pharmaceuticals for the acquisition. |
| Eversheds Sutherland | Legal Advisor | Company | Provided legal advisory services to Azurity Pharmaceuticals. |
| White & Case | Legal Advisor | Company | Legal advisor for Azurity Pharmaceuticals in the transaction. |
| Guggenheim Securities | Financial Advisor | Company | Acted as financial advisor to Covis Pharma. |
| Reed Smith | Legal Advisor | Company | Provided legal advice to Covis Pharma. |
| A&O Shearman | Legal Advisor | Company | Another legal advisor involved in the transaction for Covis Pharma. |