Krogerus advises Forendo Pharma on its acquisiton by Organon
Krogerus advised Forendo Pharma on the transaction whereby Organon, a global healthcare company formed through a spin-off from Merck, is to acquire the entire share capital of the company. Completion of the transaction is subject to review under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The transaction is expected to close in December 2021.
Consideration for the transaction includes a $75 million upfront payment, assumption of approximately $9 million of Forendo debt, payments upon the achievement of certain development and regulatory milestones of up to $270 million and commercial milestones payments of up to $600 million, which together could amount to total consideration of $954 million.
The Krogerus team was led by Partner Sami Laine and he was primarily assisted by Associates Andreas Brink, Ari Natunen and Kalle Lipsanen. Partner Samu Lassila advised on the tax aspects of the transaction and he was primarily assisted by Senior Associate Vilma Piipponen and Associate Anna Corrêa de Mora.