Radius Health

Radius Health is a global biopharmaceutical company focused on addressing unmet medical needs in bone health, neurology and oncology. The team works collaboratively and tirelessly to promote our treatments; all with the aim of improving the lives of patients, their families and those who care for them.

History

2022: Gurnet Point Capital and Patient Square bought Radius Health for $890 million

On June 23, 2022, the sale of Radius Health to investment companies Gurnet Point Capital and Patient Square was announced for $890 million. The deal is expected to close in the third quarter of 2022, with boards of both companies already approving it.

Biopharmaceutical company Radius Health has launched a cure for osteoporosis and is developing new cancers for cancer and rare diseases by the end of June 2022. According to the terms of the agreement reached, Gurnet Point Capital and Patient Square Capital will acquire all Radius shares for $10 apiece. That price is 12.2% above the value of the stock at the close of trading and 45% above the average share price over the past 30 days. For comparison, the company went public in 2014 at a price of $8 per share. The share price peaked in 2015 at just over $78.

Cancer drugmaker Radius Health sells for $890 million

The additional conditions will add $1 per share if sales of the osteoporosis drug for menopausal women Tymlos manufactured by Radius reach $300 million per year by 2025. The total sales of the drug last quarter amounted to $43 million, and according to the company's forecasts, it will reach $230 million in 2022.

{{quote 'We are confident that this transaction provides immediate value and liquidity to Radius shareholders in a volatile market, particularly the volatile biotech market, and provides the clearest way forward for Radius. OrbiMed Advisors provides debt financing to Gurnet Point and Patient Square. The company will not answer questions until the documents are filed with regulators, said Radius Chairman Owen Hughes. }} In 2021, Radius Health reported revenue of $230 million, up from $239 million in 2020. Sales of the company's flagship product, Tymlos, for 2021 amounted to $219 million, compared to $208 million in 2020.^[1]

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