Paris Smith advises on $305 million Uteron deal - Paris Smith Skip to content

29th January 2013

Paris Smith advises on $305 million Uteron deal


29th January 2013

Paris Smith advises on $305 million Uteron deal

Paris Smith’s Corporate Team helped Uteron Pharma SA with its sale to Watson Pharmaceuticals, Inc.

Partners Crispin Dick and Michael Moore led the Paris Smith team working alongside niche life sciences firm, Lawford Davies Denoon, and Uteron’s Belgian counsel to successfully conclude the sale of Uteron Pharma SA to Watson.  The transaction was governed by English law.  The Paris Smith team were responsible for advising on and negotiating the main acquisition documents.  Watson paid an initial cash price of USD 150 million (subject to adjustment) and agreed to pay up to a  further USD 155 million based on future milestone achievement for 100{ba3215b0bf35eaeb06be458b3396ffbfc50bb9db10c9ff1594dfc3875e90ea48} of Uteron’s securities.  Jefferies provided financial advice to Uteron.  SJ Berwin acted for Watson.  

Uteron is developer and owner of a number of Women’s Health products including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018.

Uteron’s executive team, including Co-CEO and co-founder Stijn Van Rompay and CSO and co-founder Professor Jean-Michel Foidart, will continue to manage Uteron.  Stijn Van Rompay commented, “Joining forces with Watson provides an excellent opportunity to advance our product portfolio further and leverage the global commercial platform of Watson”

Paris Smith LLP Partner Crispin Dick added “We are delighted to have been able to assist Uteron in what has been an important strategic move for both parties.”

This transaction is one of many completed by the Corporate team in the past six months including the sales of Classic Folios Limited and Cobalt Holdings Limited and the re-financing and re-development of the Ageas Bowl.

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