Announcement | Oct 8, 2025Honigman Advises CB Biotechnology, LLC on Closing of up to $254 Million Acquisition of Theratechnologies Inc.

Honigman represented CB Biotechnology, LLC, an affiliate of Future Pak, LLC, a privately held contract manufacturer, packager, and distributor of pharmaceutical and nutraceutical products - in completing its acquisition of Theratechnologies, Inc., a specialty biopharmaceutical company focused on the commercialization of innovative therapies.

With the completion of the acquisition, which closed on September 25, 2025, Theratechnologies shareholders will receive US $3.01 per share in cash plus one contingent value right ("CVR") per share, which may garner an additional US $1.19 per CVR, so long as certain milestones are satisfied by Theratechnologies.

"This acquisition marks the continuation of our growth and adds depth to our infrastructure, all in an effort to continue delivering quality-first, patient-centric solutions," said David Risk, operating chairman of Future Pak, LLC. "We are grateful for Honigman's partnership in achieving this major milestone, and we look forward to continuing our work with the team."

Honigman advised CB Biotechnology in the acquisition. The team was led by Corporate Partners Nick Gorga, Nicholas Pedersen and Jeffrey H. Kuras, with support from Associates Joseph M. Kuzmiak and Gareth T. Ulmer. Financing counsel was provided by Partners Kimberly A. Dudek and David J. Axelson, with support from Associate Sarah A. Schade-McCarter.