Amphastar is looking to tidy up its balance sheet after the company’s landmark acquisition of Eli Lilly’s Baqsimi (glucagon) emergency nasal spray.
Generics and specialty player Amphastar Pharmaceuticals, Inc. has unveiled plans to raise approximately $300m via a private placement of senior convertible notes due in 2029, with the potential for initial purchasers to buy an additional $45m of the notes, following its recent $1bn+ deal package to acquire Eli Lilly’s Baqsimi (glucagon) emergency nasal spray.
Most of the initial capital will be designated for repaying debt and buying back stock, Amphastar said, with $200m of...
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