Tevogen CEO Says ‘Actively Evaluating’ Potential Acquisitions
Synopsis
The announcement comes on the heels of the company announcing that it has entered into a letter of intent to evaluate a deal with another pharmaceutical company called Apozel Pharmaceuticals.
Tevogen CEO Ryan Saadi said in a letter to shareholders on Friday that the company is “actively evaluating” potential acquisitions to drive value.
“If consummated, these transactions are expected to operate as subsidiaries of Tevogen resulting in positive cash flow generation and a return on invested capital over time,” the CEO said.
As per the CEO, the combined entities under consideration for acquisition may generate aggregate annual revenues in excess of $50 million. The announcement comes on the heels of the company announcing that it has entered into a letter of intent to evaluate a deal with another pharmaceutical company called Apozel Pharmaceuticals.
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