Azurity Pharmaceuticals Strengthens Portfolio with Covis Pharma Acquisition
Deal News | Mar 14, 2025 | PR Newswire Cision Azurity Pharmaceuticals
Azurity Pharmaceuticals successfully completed the acquisition of Covis Group S.à r.l. from existing investors, making Covis a wholly-owned subsidiary of Azurity. This move is part of Azurity's strategic expansion into diverse therapeutic areas with multiple dosage forms and extending its commercial reach across over 50 countries. By merging their strengths, the company aims to enhance treatment accessibility for underserved patients globally. The acquisition was supported by QHP Capital, emphasizing their dedication to life sciences investments. Financial and legal advisories were provided by Goldman Sachs, Eversheds Sutherland, and White & Case for Azurity, and Guggenheim Securities, Reed Smith, A&O Shearman for Covis.
Sectors
- Pharmaceuticals
- Healthcare
- Private Equity
Geography
- United States – Azurity Pharmaceuticals is based in Woburn, Massachusetts, which is a key location for the company's operations.
- Europe – Covis Pharma's global operations extend significantly into Europe, making this geography relevant.
- Asia – The acquisition helps Azurity penetrate the Asian markets, as part of its expanded global footprint.
Industry
- Pharmaceuticals – This industry involves the development, production, and marketing of medications. Azurity Pharmaceuticals is in this industry, focused on branded pharmaceuticals and therapeutic areas.
- Healthcare – The healthcare industry provides goods and services to treat patients. Azurity and Covis work in therapeutic areas that fall under healthcare.
- Private Equity – This represents investments and ownership in companies. QHP Capital's role as the majority owner of Azurity places this transaction in this industry classification.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Azurity Pharmaceuticals | Acquirer | Company | A privately held pharmaceutical company focused on branded pharmaceutical therapies. |
| Covis Group S.à r.l. | Target Company | Company | Covis Pharma is a pharmaceutical company specializing in diverse therapeutic areas. |
| QHP Capital | Majority Owner of Azurity | Company | An investor firm providing capital and expertise in life sciences and healthcare. |
| Goldman Sachs | Financial Advisor to Azurity | Company | A leading global investment banking, securities, and investment management firm. |
| Eversheds Sutherland | Legal Advisor to Azurity | Company | A multinational law firm providing legal advisory services. |
| White & Case | Legal Advisor to Azurity | Company | A prominent international law firm providing legal services in various areas. |
| Guggenheim Securities | Financial Advisor to Covis | Company | An investment firm providing advisory services across industries. |
| Reed Smith | Legal Advisor to Covis | Company | A global law firm serving clients in various sectors. |
| A&O Shearman | Legal Advisor to Covis | Company | A legal firm providing advisory services globally. |
| Ronald Scarboro | CEO of Azurity | Person | CEO leading the strategic direction of Azurity Pharmaceuticals. |
| Rajiv De Silva | Chairman of the Board of Covis | Person | Chairman overseeing the strategic decisions at Covis Pharma. |
| Jeff Edwards | Partner at QHP Capital | Person | A partner at QHP Capital, supporting Azurity's growth endeavors. |