Pharma BD Deal Intelligence
On August 28, 2026, BioXcel Therapeutics filed for voluntary Chapter 11 bankruptcy protection and simultaneously entered into an asset purchase agreement with Teva Pharmaceuticals International GmbH. Teva is designated as the stalking horse bidder in a Section 363 auction process and would acquire substantially all of BioXcel's assets for $57.5 million upfront plus up to $67.5 million in contingent milestone payments, for total consideration of up to $125 million. The assets include IGALMI (dexmedetomidine) sublingual film and the pending supplemental New Drug Application for BXCL501 for at-home (outpatient) acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults, which carries an FDA PDUFA target action date of November 14, 2026. The contingent consideration is tied to the outcome and timing of that application. The sale remains subject to the bankruptcy auction and court approval. NOTE: ingested at pending_review pending enrichment.
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More: 2026 deals · Teva Pharmaceutical Industries Ltd. deals