Travere Therapeutics Offloads Bile Acid Product Portfolio: Says Divestment Strengthens Financial Foundation
Portfolio Pulse from Vandana Singh
Travere Therapeutics Inc has agreed to sell its bile acid product portfolio to Mirum Pharmaceuticals Inc for up to $445 million. The deal includes $210 million upfront and $235 million in potential sales-based milestone payments. The transaction is expected to close in Q3 of 2023. The deal expands Mirum's footprint in rare liver disease and advances Travere's strategy to deliver new treatment standards for rare diseases.
July 17, 2023 | 4:18 pm
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NEUTRAL IMPACT
Travere Therapeutics is selling its bile acid product portfolio to Mirum Pharmaceuticals, which will strengthen its financial foundation.
The sale of the bile acid product portfolio will provide Travere Therapeutics with a significant cash influx, strengthening its financial foundation. However, the company's shares are slightly down, indicating that the market may have already priced in this news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mirum Pharmaceuticals is acquiring Travere Therapeutics' bile acid product portfolio, expanding its footprint in rare liver disease.
The acquisition of Travere Therapeutics' bile acid product portfolio will expand Mirum Pharmaceuticals' footprint in rare liver disease. This could potentially increase the company's market share and revenues in the future. The company's stock is up, indicating positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100