Knight Completes Acquisition of Paladin
Deal News | Jun 17, 2025 | Globenewswire
Knight Therapeutics Inc., a specialty pharmaceutical company based in Montreal, Canada, announced the completion of its acquisition of the Paladin business from Paladin Pharma Inc., a subsidiary of Endo, Inc. The transaction, structured as an Asset Purchase Agreement, was originally announced in March 2025, with the closing occurring in June 2025. Knight made a cash payment of approximately $107 million, including an inventory payment of $22.3 million, with a holdback amount of $15.4 million for potential liabilities and specific conditional releases. Further contingent payments of up to US$15 million may be made upon meeting certain sales milestones. Knight intends to integrate its current Canadian operations with Paladin and Sumitomo portfolios to enhance growth, positioning Canada as a significant revenue contributor. The move is part of Knight's broader strategy to acquire, in-license, and commercialize pharmaceutical products across Canada and Latin America. RBC Capital Markets assisted as financial advisors, while Davies Ward Phillips & Vineberg provided legal counsel.
Sectors
- Pharmaceutical
Geography
- Canada – Knight Therapeutics is headquartered in Montreal, Canada, making it a key geographical focus for the company's operations and expansions.
- Latin America – Knight is focused on commercializing pharmaceutical products for Latin America, highlighting the region's relevance to the company's business strategy.
Industry
- Pharmaceutical – The core industry involved in the acquisition is the Pharmaceutical sector, as it deals with the development, acquisition, and commercialization of pharmaceutical products.
Financials
- 107,000,000 – Total cash paid by Knight for the acquisition of Paladin, including payment for inventory.
- 22,300,000 – The amount paid by Knight for inventory as part of the acquisition.
- 15,400,000 – Holdback amount from the acquisition payment, part of which may be released under specific conditions.
- 15,000,000 – Potential contingent payment that Knight may make upon achieving certain sales milestones.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Knight Therapeutics Inc. | Acquirer | Company | A Montreal-based specialty pharmaceutical company focused on Canada and Latin America. |
| Paladin Pharma Inc. | Target Company | Company | An Endo, Inc. operating company whose assets were acquired by Knight Therapeutics. |
| Endo, Inc. | Seller | Company | The parent company of Paladin Pharma Inc., providing the assets sold to Knight Therapeutics. |
| RBC Capital Markets | Financial Advisor | Company | Served as the exclusive financial advisor to Knight Therapeutics for the acquisition. |
| Davies Ward Phillips & Vineberg | Legal Advisor | Company | Provided legal counsel to Knight Therapeutics during the acquisition process. |