Organon Completes Acquisition of Alydia Health – A Medical Device Company Focused on Postpartum Hemorrhage
Organon (NYSE: OGN), a global women’s healthcare company, today announced the completion of its acquisition of Alydia Health, a commercial-stage medical device company focused on preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding.
Postpartum hemorrhage is one of the most common complications of birth, requiring pharmacologic treatment in up to 10% of mothers and potentially resulting in emergency intervention such as hysterectomy and blood transfusions. In the worst cases, PPH may lead to maternal death.i Worldwide, 40,510 women died due to PPH in 2016.ii
“Organon’s acquisition of Alydia Health expands our portfolio into the medical device category and underscores our commitment to identify options for women’s unmet medical needs. This acquisition brings us one step closer to our vision of a better and healthier every day for every woman around the world,” said Kevin Ali, Chief Executive Officer, Organon.
On June 3, 2021, Organon launched as a new company committed to women’s everyday health needs, with a focus on reproductive health, health issues that affect women as well as conditions that disproportionately affect women.
“Alydia Health is thrilled to be joining a company that can help progress our founding vision through its commitment to listen to women, to understand her health needs and to bring forward more options,” said Rob Binney, Chief Executive Officer, Alydia Health.
“With our global commercial footprint in reproductive health and experience creating affordable access in the world’s least developed markets, we will look for ways to bring the Jada System to more women around the world,” said Susanne Fiedler, Chief Commercial Officer, Organon.
Organon agreed to acquire Alydia Health in March 2021. Total consideration was $240 million, including a $215 million cash payment ($50 million of which was paid by Merck, known as MSD outside the U.S. and Canada, upon signing in March 2021, and $165 million paid by Organon at close) plus a $25 million contingent milestone payment.
About Alydia Health
Founded in 2010 with a vision to make childbirth safer for all mothers, Alydia Health is a commercial-stage medical device company focused on preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding – a challenging condition to manage and a growing problem in the U.S. and globally.
Alydia’s device, the Jada® System, is designed to encourage normal contraction of the uterus to stop excessive bleeding after childbirth. Alydia received 510(k) clearance (marketing authorization) from the FDA for the Jada® System in August 2020 based on results from the company’s pivotal PEARLE IDE Study.
Organon (NYSE: OGN) is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the United States and Canada, to focus on improving the health of women throughout their lives. Here for her health, the company has a portfolio of more than 60 medicines and products across a range of therapeutic areas. Led by the reproductive health portfolio coupled with an expanding biosimilars business and stable franchise of established medicines, Organon’s products produce strong cash flows that will support investments in future growth opportunities in women’s health, including business development. In addition, Organon is pursuing opportunities to collaborate with biopharmaceutical innovators looking to commercialize their products by leveraging its scale and presence in fast growing international markets.
Organon has a global footprint with significant scale and geographic reach, world-class commercial capabilities, and approximately 9,000 employees with headquarters located in Jersey City, New Jersey.
Forward-Looking Statement of Organon & Co., Jersey City, N.J., USA
This news release of Organon & Co. (the “company”) may include “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to the company’s goals, plans and projections regarding the company’s financial position and results of operations. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the retention of Alydia Health employees and the company’s ability to successfully integrate the Alydia Health business; risks inherent in the achievement of anticipated synergies and the timing thereof; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by any applicable securities laws. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s filings with the Securities and Exchange Commission (SEC), including its registration statement on Form 10, available at the SEC’s Internet site (www.sec.gov).
i Widmer M et al. "Heat-Stable Carbetocin versus Oxytocin to Prevent Hemorrhage after Vaginal Birth." N Engl J Med 2018; 379:743-752.
ii Roser M, Ritchie H. Maternal mortality. Our World in Data. https://ourworldindata.org/maternal-mortality. Published November 12, 2013. Accessed August 19, 2020.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Leicester’s Hospitals Awards Deenova a Unit Dose Pharmacy Automation 15 Year Contract2.8.2021 08:00:00 CEST | Press release
Deenova reported today it signed its first ever contract in the United Kingdom, and established operations in Europe’s second largest GDP health care market, with the NHS being the eight largest employer in the world. Deenova was selected by University Hospitals of Leicester NHS Trust as the best solution amongst 8 of Deenova's competitors in United Kingdom and the United States of America. Claire Ellwood, chief pharmacist at University Hospitals of Leicester NHS Trust, said: “We’re proud to be working with Deenova to deploy the first unit dose closed loop medicines management system in the UK. Every year, we administer millions of medication doses so it’s vital our processes are as safe and efficient as possible. The partnership with Deenova will increase automation within our medication processes helping to reduce errors and wastage as well as freeing up staff time for other care and tasks. After a successful pilot, we are pleased to start planning the roll out across our three hospi
AMICOGEN Inc. and Lysando AG Bring Partnership to the Next Level With Ownership Participations in Each Other’s Companies2.8.2021 08:00:00 CEST | Press release
South Korean KOSDAQ listed AMICOGEN Inc. will become the latest shareholder in Lysando AG. The transaction includes an acquisition of shares, a cash contribution to Lysando and a share package to Lysando into AMICOGEN. The deal means an 8% participation of AMICOGEN into Lysando and 2.69% in shares for Lysando into AMICOGEN. The transactions were negotiated with a 300 Mio. Euro evaluation of Lysando. Other shareholders of Lysando continue to be majority owner and Chairman of the Board Markus Graf Matuschka von Greiffenclau, Bangkok based SCG, and Lysando’s employees. The companies have already a productive partnership in place, based on Lysando´s leading platform Artilysin®. It is a globally patented, sustainable and highly effective technology, fighting resistance of microbes, as an alternative to antibiotics and other antimicrobial treatments. „I am very happy and proud to welcome AMICOGEN as a new shareholder of Lysando. AMICOGEN being such a strong and successfully operating CDMO, A
Ipsen and Exicure Enter Into Exclusive Collaboration Targeting Rare Neurodegenerative Disorders2.8.2021 07:00:00 CEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210801005028/en/ Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) and Exicure Inc. (NASDAQ: XCUR) have signed an exclusive collaboration agreement to research, develop, and commercialize novel Spherical Nucleic Acids (SNAs) as potential investigational treatments for Huntington’s disease and Angelman syndrome. Oligonucleotides are synthetic structures of nucleic acids that can be used to modulate gene expression via a range of processes, including gene activation, inhibition, and splice-modulation. These molecules have demonstrated potential in many different therapeutic areas.1 Achieving efficient oligonucleotide delivery to target organs and tissues, including the brain, remains a major limitation to their use.1,2 Exicure’s SNAs provide distinct chemical and biochemical properties to oligonucleotides. I
Arqit Releases QuantumCloud™ to Deliver Stronger, Simpler Encryption2.8.2021 06:20:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology announces the release of the first version of its service, QuantumCloud™ 1.0. This Platform‑as‑a‑Service software enables customers to secure the communications channels and data of any cloud, edge or end-point device. The service combines transformational and unique advances in both quantum and classical cryptography. The release of QuantumCloud™ 1.0 allows customers to secure devices globally by providing a strong device authentication capability, over which is layered the agreement of symmetric keys between authenticated and authorised devices. Importantly, since there are no asymmetric cryptographic primitives used within the trustless key agreement protocol, the keys can be regarded as safe against future attack using Shor’s algorithm running on a quantum computer. A range of other features will be added in future quarters, culminating in the launch of Arqit’s proprietary quantum satellites, which is targeted for 2
Arqit Registration Statement Related to Business Combination With Centricus Acquisition Corp. Declared Effective By SEC2.8.2021 06:04:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology today announced the Registration Statement on Form F-4 in connection with the previously announced business combination (the “Business Combination”) with Centricus Acquisition Corp. (“Centricus”) (Nasdaq: CENHU, CENH, CENHUW), a publicly-listed special purpose acquisition company, has been declared effective by the Securities and Exchange Commission (the “SEC”). Upon closing, the ordinary shares and warrants of Arqit Quantum Inc., a company formed for purposes of completing the Business Combination, will be listed on NASDAQ under the new ticker symbols “ARQQ” and “ARQQW.” The boards of directors of Arqit and Centricus have unanimously approved the Business Combination, and Centricus has set 9:00 a.m. ET on August 31, 2021 as the time and date for an extraordinary general meeting of shareholders to approve the proposals associated with the Business Combination. The proxy statement/prospectus contains important informatio
Takeda Receives Decision by the Irish Tax Appeals Commission Relating to Tax Assessment on Break Fee Shire Received from AbbVie2.8.2021 01:30:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the receipt of a decision by the Irish Tax Appeals Commission on July 30, 2021 (IST) to uphold the Irish Revenue Commissioners’ position related to the treatment of a break fee received by Shire plc (“Shire”) in October 2014 from AbbVie Inc. (“AbbVie”). Shire was acquired by Takeda in January 2019. Takeda intends to challenge this outcome through all available legal means including appealing the decision to the Irish courts. On November 28, 2018, Shire received a tax assessment from the Irish Revenue Commissioners for 398 million EUR. This assessment sought to tax a 1,635 million USD break fee Shire received from AbbVie in connection with the terminated offer to acquire Shire made by AbbVie in 2014. Takeda appealed this assessment, and in late 2020 a hearing took place before the Irish Tax Appeals Commission. While Takeda is continuing to assess the substance of the decision, the company will record a
Square, Inc. Announces Plans to Acquire Afterpay, Strengthening and Enabling Further Integration Between its Seller and Cash App Ecosystems1.8.2021 23:48:00 CEST | Press release
Square, Inc. (NYSE: SQ) and Afterpay Limited (ASX: APT) today announced that they have entered into a Scheme Implementation Deed under which Square has agreed to acquire all of the issued shares in Afterpay by way of a recommended court-approved Scheme of Arrangement. The transaction has an implied value of approximately US$29 billion (A$39 billion) based on the closing price of Square common stock on July 30, 2021, and is expected to be paid in all stock. The acquisition aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. The closing of the transaction is expected in the first quarter of calendar year 2022, subject to the satisfaction of certain closing conditions outlined below. “Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand align