12 August 2019 – Recordati announced the signing of an agreement for the acquisition of the worldwide rights for Signifor and Osilodrostat for the treatment of the Cushing’s disease and the Cushing’s syndrom from Novartis. The purchase price amounts to USD 390 million, with royalty payments as well as additional payments for the achievement of certain milestones becoming due. The transaction is subject to clearance by merger control authorities.

Walder Wyss has acted as legal counsel to Recordati in the transaction. The Walder Wyss team was being led by Florian Gunz Niedermann (Partner, Corporate/M&A) und Michael Isler (Partner, Pharma & IP) and further included Christian Hagen (Associate, Corporate/M&A), Jan Ole Luuk (Counsel, Tax), Daniel Zimmerli (Counsel, Competition law) as well as Christine Leuch, Caroline Gaul and Monja Sieber (Associates, Pharma/IP).