CXRX - Concordia Healthcare Corp

Concordia Healthcare Corp. is a Canada-based diverse healthcare company. The Company is focused on legacy pharmaceutical products and orphan drugs. The Company operates through three segments, which includes Legacy Pharmaceutical Division, Concordia Pharmaceuticals Inc., which consists of 23 products, including Nilandron, for the treatment of metastatic prostate cancer; Dibenzyline, for the treatment of pheochromocytoma; Lanoxin, for the treatment of mild-to-moderate heart failure and atrial fibrillation; Plaquenil, for the treatment of lupus and rheumatoid arthritis; Donnatal, for the treatment of irritable bowel syndrome, and Zonegran (zonisamide), for treatment of partial seizures in adults with epilepsy. Its Specialty Healthcare Distribution (SHD) Division, Complete Medical Homecare, is engaged in the distribution of medical supplies focused on diabetes and related conditions. Its Orphan Drugs Division, Concordia Laboratories Inc., is engaged in the manufacture of PHOTOFRIN.

 

Nice pop today on good volume, closed up 15%

Concordia (CXRX) Stock Surges, Explores Sale of Equity Stake

NEW YORK (TheStreet) -- Shares of Concordia Int'l (CXRX) were spiking 14.73% to $5.14 on heavy trading volume late Monday afternoon as the Canada-based pharmaceutical company is in talks to sell a minority stake of itself to a private equity firm, Reuters reports, citing sources.

The move is being discussed as an alternative to a leveraged buyout as the company has $3 billion in debt and faces ongoing drug pricing regulations.

Concordia is currently evaluating strategic alternatives, such as various capital markets financing options, the company said in a statement earlier today. The company added that there's no assurance that any transaction will occur.