LAKE FOREST, Ill., June 16, 2026
Assertio Holdings, Inc. announced the successful completion of its previously announced merger with Zydus Lifesciences Ltd., marking the official close of the strategic acquisition. Under the terms of the merger agreement, Assertio has become a wholly owned subsidiary of Zydus Lifesciences, while Assertio shareholders received $23.50 per share in cash. Following completion of the transaction, Assertio’s common stock has been delisted from the Nasdaq Stock Market, concluding its tenure as a publicly traded company. The acquisition strengthens Zydus Lifesciences’ global pharmaceutical portfolio and reflects the company’s continued strategy of expanding its commercial presence through targeted acquisitions.
Merger Finalized as Assertio Integrates into Zydus Operations
The acquisition was completed through Zydus Worldwide DMCC, a wholly owned subsidiary of Zydus Lifesciences, together with Zara Merger Sub Inc., pursuant to the merger agreement announced on May 13, 2026. Following the transaction, Assertio will continue operating under the Zydus organization while leveraging the parent company’s global development, manufacturing, and commercialization capabilities. The completion of the merger represents another significant milestone in Zydus Lifesciences’ international growth strategy, further strengthening its presence across specialty pharmaceutical markets and expanding its portfolio of commercial assets.
Convertible Notes Trigger Fundamental Change Provisions
As part of the completed merger, Assertio notified holders of its 6.50% Convertible Senior Notes due 2027 that the transaction constitutes a Fundamental Change, Make-Whole Fundamental Change, and Merger Event under the governing indenture. Eligible noteholders have the right to require the company to repurchase their notes for cash at 100% of the principal amount plus accrued interest, with the repurchase scheduled for July 17, 2026. Holders wishing to exercise this right must submit their notes before July 16, 2026, in accordance with Depository Trust Company procedures. These provisions are designed to protect investors when significant corporate events alter the ownership structure of the issuing company.
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Transaction Completes Strategic Expansion for Zydus Lifesciences
During the conversion period, holders of the outstanding convertible notes also retain the option to convert their securities into a cash payment based on the revised conversion terms established following the merger. The transaction concludes a significant pharmaceutical industry acquisition that enhances Zydus Lifesciences’ commercial footprint while providing Assertio shareholders with immediate cash value. As healthcare companies continue pursuing strategic acquisitions to strengthen product portfolios and global market access, the completed merger demonstrates ongoing consolidation within the pharmaceutical sector. With Assertio now fully integrated into the Zydus organization, the combined company is positioned to pursue future growth opportunities across specialty and oncology-focused therapeutic markets.
Source: Assertio Holdings press release
