Australian law firm MinterEllison advised on the acquisition and merger of Arrow Pharmaceuticals and Apotex’s Australian subsidiaries and business to form Arrotex Holdings.
The merger has made Arrotex Australia’s largest generic pharmaceutical and private label OTC business with more than a 50% market share of the Australian generic pharmacy market.
Arrotex products will account for almost 30% of all prescription volume dispensed in pharmacies across Australia.
MinterEllison’s role included advising on the simultaneous acquisition and merger of the Australian businesses and long-term shareholder arrangements between the owners as 50-50 equity partners. The firm also advised on merger clearance, Foreign Investment Review Board approvals, and employment, long-term supply and transitional service arrangements. Arrotex also relied heavily on MinterEllison for project management and logistics assistance.
The transaction took almost two years to complete. The law firm said challenges involved dealing with numerous stakeholders across multiple jurisdictions, a complex financing structure, and achieving FIRB and Australian Competition and Consumer Commission clearance within a tight timeframe.
The deal team was led by Jeremy Blackshaw (partner), with support from Andrea Frank (partner), senior associates Steven Wang and Stephen Clarke, Rhett McPhie (associate), lawyers Mark Simkiss, Daniel Fahey, Alix Friedman, Lucy Wang, Will Richards and Marissa Piazza, and graduates Annabel Healy and Harry Smith.