NewsMV
A stalking horse bid of up to $125m puts Teva Pharmaceuticals International (TEVA) ahead of the queue to acquire BioXcel Therapeutics' core neuroscience assets, with the outcome pending a Section 363 court-supervised auction in the US Bankruptcy Court for the District of Delaware.
The deal targets worldwide rights to Igalmi, a commercially available dexmedetomidine sublingual film, and investigational BXCL501, currently before the FDA. The next confirmable step is the auction result.
The bid structure Teva's offer carries $57.5m upfront, with up to $67.5m in contingent payments linked to FDA approval timing and specified sales milestones, per the agreement.
The conditional portion means the $125m ceiling is not guaranteed; those payments remain tied to regulatory and commercial outcomes that have not yet materialized.
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