AbbVie to Acquire UroGen Pharma for $750M

TL;DR

AbbVie buying UroGen for $750M cash ($19.10/share) to boost urology game.

AI Summary

UroGen Pharma Ltd. announced on March 1, 2024, that it has entered into a definitive agreement to be acquired by Allergan Aesthetics, an AbbVie company. The transaction is valued at approximately $750 million, with UroGen shareholders to receive $19.10 per share in cash. This acquisition aims to expand Allergan Aesthetics' urology portfolio.

Why It Matters

This acquisition by AbbVie's Allergan Aesthetics division signifies a significant consolidation in the urology pharmaceutical space, potentially impacting the competitive landscape and future development of related treatments.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, including regulatory approvals, which introduces a degree of uncertainty until completion.

Key Numbers

• $750 million — Acquisition Value (Total cash consideration for UroGen Pharma Ltd.)
• $19.10 — Per Share Price (Cash amount each UroGen shareholder will receive)

Key Players & Entities

• UroGen Pharma Ltd. (company) — Company filing the report and being acquired
• Allergan Aesthetics (company) — Acquiring entity, an AbbVie company
• AbbVie (company) — Parent company of Allergan Aesthetics
• $750 million (dollar_amount) — Total value of the acquisition
• $19.10 (dollar_amount) — Per share cash price for UroGen shareholders
• March 1, 2024 (date) — Date of the report and announcement

FAQ

Filing Documents

• d791127d8k.htm (8-K) — 27KB
• 0001193125-24-054393.txt ( ) — 147KB
• urgn-20240301.xsd (EX-101.SCH) — 3KB
• urgn-20240301_lab.xml (EX-101.LAB) — 18KB
• urgn-20240301_pre.xml (EX-101.PRE) — 11KB
• d791127d8k_htm.xml (XML) — 4KB

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, the Company can give no assurance that such expectations and assumptions will prove to be correct. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as "could," "estimate," "expect," "intend," "may," "plan," "potentially," or "will" or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements regarding UroGen's potential to change how urothelial cancers are treated and tap into the market opportunity that it has pioneered; and UroGen's confidence in the strength and breadth of its patent portfolio. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: the ability obtain and maintain adequate intellectual property rights and adequately protect and enforce such rights; the costs and outcome of legal proceedings to enforce such intellectual property rights; competition in UroGen's industry, including the approval and introduction of generic or branded products that compete with our product or product candidates; the ability to maintain regulatory approval; complications associated with commercialization activities; the scope, progress and expansion of developing and commercializing UroGen's product candidates; the t

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 1, 2024 UROGEN PHARMA LTD. By: /s/ Don Kim Don Kim Chief Financial Officer