UCB S A (UCBJF), Zogenix, Inc. (NASDAQ:ZGNX) – UCB to Buy Epilepsy-Focused Zogenix In $1.9B Deal: See The Highlights




Belgian-based UCB SA (OTC: UCBJF) has agreed to buy Zogenix Inc (NASDAQ: ZGNX), a U.S. maker of drugs to treat seizures and rare diseases, for $1.9 billion, expanding its portfolio to treat epilepsy.

  • Investors will get $26 in cash for every Zogenix share, plus a potential $2 per share payment if Zogenix’s Fintepla drug gets regulatory approval for Lennox-Gastaut syndrome by the end of 2023. 
  • The initial payment is 66% higher than Tuesday’s closing price of $15.64.
  • Lennox-Gastaut syndrome is an orphan disease that causes seizures. 
  • Related: Zogenix’s Fintepla Shows Long-Term Seizure Frequency Reductions In Childhood Epilepsy.
  • Fintepla has already received regulatory approval in the U.S. and European Union for seizures caused by Dravet syndrome, a rare form of epilepsy.
  • UCB said it would finance the deal with cash and a new term loan. 
  • In addition to contributing to UCB’s revenue growth after closing, the Zogenix deal is expected to be accretive to UCB’s earnings from 2023 onwards.
  • Lazard and Barclays are UCB’s financial advisors, while Bank of America Securities and SVB Leerink advised Zogenix.
  • Price Action: ZGNX shares surged 59.9% at $25.00 during the premarket session on the last check Wednesday.

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