Lake Forest Drugmaker Assertio Sold For $125M In Take-Private Deal

Assertio agreed to be acquired for $18 a share and sold several branded drugs to Cosette for $35M.

Apr. 9, 2026 at 9:09pm

Got story updates? Submit your updates here. ›

A highly polished, geometric glass bottle with a minimalist label floats on a clean, monochromatic background, representing the pharmaceutical industry's strategic shifts.A private equity takeover deal allows a Lake Forest drugmaker to streamline its portfolio and focus on its core product.Lake Forest Today

Lake Forest-based Assertio has struck a deal to go private, agreeing to be bought for $18 a share in a transaction that values the company at roughly $125 million. As part of the overall transaction, Cosette agreed to acquire U.S. sales and distribution rights to several of Assertio's branded products for $35 million upfront.

Why it matters

The deal represents a relatively quick route to shareholder value for Assertio in a choppy sector environment, as the company will become a private subsidiary of Garda Therapeutics, leaving Rolvedon as its primary remaining commercial asset.

The details

Under the merger agreement, Garda Therapeutics will promptly kick off a cash tender offer at $18.00 per share and issue a contingent value right tied to potential SPRIX milestones. Assertio's board has unanimously recommended that shareholders tender into the offer. The purchase price comes to about $125.1 million, and the agreement includes a 20-day "window-shop" period that allows the company to entertain superior bids. As part of the overall transaction, Cosette agreed to acquire U.S. sales and distribution rights to Sympazan, INDOCIN (oral suspension and suppositories), SPRIX, ZIPSOR, CAMBIA and the recently decommercialized OTREXUP for $35 million upfront.

  • The companies expect to close the deal in the second quarter of 2026, subject to customary conditions.

The players

Assertio

A Lake Forest-based drugmaker that has agreed to be acquired for $18 a share in a $125 million take-private deal.

Garda Therapeutics

The company that will acquire Assertio and take it private.

Cosette Pharmaceuticals

The company that agreed to acquire the U.S. sales and distribution rights to several of Assertio's branded products for $35 million upfront.

Got photos? Submit your photos here. ›

The takeaway

The deal represents a relatively quick route to shareholder value for Assertio in a choppy sector environment, as the company will become a private subsidiary of Garda Therapeutics, leaving Rolvedon as its primary remaining commercial asset.