Auriga to purchase Levall product line from Athlon for $5 million

By Elaine Rigoli

Tampa, Fla., Aug. 1 - Auriga Laboratories, Inc. said Tuesday it will purchase Athlon Pharmaceuticals, Inc.'s Levall product line.

The proposed purchase price consists of $2.5 million of cash payable by Auriga at the closing of the transactions contemplated by the letter agreement, $2.5 million of Auriga common stock, with registration rights, delivered at the closing and additional cash payments based upon net sales of the Levall product line for specified periods after the closing, according to a news release.

The companies said they plan to sign a definitive agreement by Aug. 15 and close the transactions by Aug. 31.

The Levall product line consists of various pharmaceutical products that provide relief from coughing, congestion and rhinitis associated with respiratory infections such as the common cold, influenza, bronchitis and sinusitis.

Auriga, based in Norcross, Ga., is a pharmaceutical company.

Athlon is a pharmaceutical company based in Birmingham, Ala.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.