Southampton: Paris Smith Corporate Team assists Uteron Pharma SA sale to Watson Pharmaceuticals

By TBM Team

29 January 2013

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Partners Crispin Dick and Michael Moore led the team at law firm Paris Smith working alongside niche life sciences firm, Lawford Davies Denoon, and Uteron’s Belgian counsel to conclude the sale of Uteron Pharma SA to Watson. The transaction was governed by English law. The Paris Smith team was responsible for advising on and negotiating the main acquisition documents. Watson paid an initial cash price of $150 million (subject to adjustment) and agreed to pay up to a further $155m based on future milestone achievement for 100% 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 and Cobalt Holdings and the re-financing and re-development of the Ageas Bowl.

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