07:11 AM EDT, 03/11/2025 (MT Newswires) -- Knight Therapeutics ( KHTRF ) on Tuesday said it is acquiring Paladin Pharma for $120 million in cash, including inventory valued at $20 million.

Knight may pay up to an additional US$15 million if certain sales milestones are hit, according to a statement. In 2024, Paladin generated revenue of $70 million, the statement said. The closing of the transaction is expected to occur in the middle of this year.,

"This synergistic transaction adds critical mass and significantly increases the size of our Canadian business," said Samira Sakhia, Knight's chief executive. "In addition, the acquisition adds a portfolio of stable cash flow generating pharmaceuticals that will help fund our growth in Canada and Latin America."