Cipher Pharmaceuticals Completes Acquisition of Canadian Business Portfolio of Cardiome Pharma for $25.5 Million

May 15, 2018

Cipher Pharmaceuticals Inc. (TSX:CPH), a specialty pharmaceuticals company with a robust and diversified portfolio of commercial and early to late-stage products, acquired the Canadian business portfolio of Cardiome Pharma Corp. (TSX: COM) by way of the acquisition of all of the issued and outstanding shares of Cardiome following a restructuring of Cardiome pursuant to a court approved plan of arrangement. Cardiome’s Canadian business portfolio includes commercial and pipeline hospital products administered in the acute care setting.

Cipher acquired the business portfolio for aggregate cash consideration of $25,500,000 and, in connection with the acquisition, amended its debt facility with the Canadian Imperial Bank of Commerce to draw an additional US$5,000,000.

Wildeboer Dellelce LLP acted for Cipher in connection with the acquisition and the amendment to the debt facility with a team that consisted of Perry Dellelce, James Brown, Sanjeev Patel, Ragu Anantharajah and Joel Fraser (corporate/mergers and acquisition), Chris Partridge and Ryan Trimble (debt) and Katy Pitch (tax).



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