Will Assertio’s acquisition of Spectrum boost Rolvedon sales? 

The upcoming acquisition of Spectrum Pharmaceuticals by Assertio Holdings has sparked interest in how it will impact the sales of Hanmi Pharm's neutropenia drug, Rolvedon, in the United States. As Spectrum is a U.S. partner of Hanmi Pharm, the acquisition could potentially have a significant impact on the distribution and marketing of Rolvedon in the U.S. market.

Assertio said on Tuesday that it would acquire all of the outstanding shares of Spectrum. The acquisition is expected to be completed in the third quarter, the company said. Upon closing of the acquisition, Assertio shareholders will own 65 percent of the merged company, and Spectrum shareholders, 35 percent. 

Under the deal, Spectrum stockholders will receive upfront consideration of 0.1783 Assertio shares per SPPI Share ($1.14 per share), plus one contingent value right (CVR) for total potential consideration of up to $1.34 per share.

Assertio said upfront consideration represents a premium of 65 percent and the total potential consideration represents a premium of 94 percent to Spectrum’s latest closing price.

Assertio said it plans to retain the majority of Spectrum’s commercial team and add operating costs of around $60 million annually.

Assetio said the acquisition will enable Spectrum to generate revenue more quickly and efficiently than it could on a standalone basis, particularly through the synergies between Spectrum's sales network and its contactless digital platform to deliver clinical messages.

Tom Riga, Presdient and CEO of Spectrum Pharmaceuticals, said the company’s combined assets and commercial infrastructure will position itself to accelerate Rolvedon’s launch for the benefit of patients, maximize its potential and drive further growth.

Shares of Spectrum jumped nearly 30 percent in premarket trading on the news of the acquisition.

Spectrum is the exclusive U.S. distribution partner for Rolvedon, a neutropenia treatment developed by Hanmi Pharm. Spectrum received marketing authorization for Rolvedon from the U.S. FDA last September and launched the product in October, a month later.

In the first year of Rolontis' launch, Spectrum reported net sales of $10.1 million. The company incurred $38.8 million in SG&A expenses last year.

Following the FDA's rejection of Hanmi Pharm’s' poziotinib for non-small cell lung cancer (NSCLC) last November, Spectrum has been restructuring, including cutting about 75 percent of its research workforce.