Medicis acquires Graceway Pharmaceuticals' assets for US$455 million

Medicis Pharmaceuticals Corporation, a leading independent specialty pharmaceutical corporation in the United States and Canada, completed its acquisition of substantially all of the U.S. and Canadian assets of Graceway Pharmaceutical, LLC for US$455 million. Graceway filed for Chapter 11 bankruptcy protection on September 29, 2011, and Medicis was the successful bidder in the bankruptcy auction approved by both the U.S. and Canadian bankruptcy courts. Medicis was assisted on the Canadian legal aspects of the transaction by a team that included Timothy Squire (regulatory), Scott Conover (corporate, mergers & acquisitions), Aubrey Kauffman and Stuart Brotman (insolvency/restructuring), Richard Cheung (regulatory), Ian Campbell (labour), Paul Casuccio (tax), Kevin Holbeche (IP), Paul King (real estate), Ronald Nobrega (tax) and Juho Song (corporate).