CorMedix to Acquire Heron Therapeutics’ Commercial Assets for $145 Million in Cash and Stock
November 12, 2026
Source: drugdu
29
On November 11, CorMedix announced a definitive agreement to acquire substantially all assets of Heron Therapeutics, including a portfolio of four commercial-stage products. The transaction is expected to be immediately accretive to earnings and free cash flow and significantly diversify the company's revenue base within hospital and acute care settings.
The acquired portfolio includes four FDA-approved products—ZYNRELEF, APONVIE, CINVANTI and SUSTOL—which collectively generated approximately $150 million in trailing 12-month net revenue.
The upfront consideration consists of $145 million in cash and approximately 14.6 million shares of CorMedix common stock. Heron is also eligible for up to $55 million in earn-out payments tied to 2028 net sales of ZYNRELEF.
CorMedix anticipates $45 million to $60 million in annualized operating cost synergies by the end of 2027 through its existing commercial infrastructure. The acquisition is expected to close in the first quarter of 2027, subject to Heron stockholder approval and other customary closing conditions.
Source: https://news.openbell.live/news/crmd-cormedix-to-acquire-heron-therapeutics-commercial-assets-for-145m-cash-and-stock-2026-11-11
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