Merger with Crown Laboratories

[anonymous]

No one knows what’s happening. People are definitely jumping ship. Number of people on the therapeutics side are openly applying/interviewing and some have already left. Wouldn’t be surprised if in the coming weeks the sales team is down to half the people

there are no sales withTX just a smoke an mirros
sales leadership is a dumpster dive with no credibility

 

[anonymous]

The merger is supposed to happen by the 25th… Unless they extend… Again. What a joke of a company. i hope teoxane comes out on top.

Teoxane is terrible. Run by a psycho.

 

[anonymous]

Teoxane is terrible. Run by a psycho.

Any one hear whether it went through or not? This shit is a joke at this point

 

[anonymous rich]

Any one hear whether it went through or not? This shit is a joke at this point

Haven’t seen any news……..hopefully it goes through

 

[anonymous]

“NASHVILLE, TN - Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology firm specializing in pharmaceutical preparations, announced on Friday an extension to the commencement date of a tender offer related to its planned merger with Crown Laboratories, Inc. and Reba Merger Sub, Inc. (collectively the "Buyer Parties"). The decision to delay the offer, initially set for October 18, 2024, comes as Revance engages in discussions with Teoxane SA concerning an existing distribution agreement.

The ongoing negotiations with Teoxane, a key partner for Revance, stem from a notice Revance received on August 16, 2024, alleging material breaches in their exclusive distribution agreement from January 10, 2020. The alleged breaches pertain to stock levels and efforts to promote and sell Teoxane products. Revance has denied these allegations and is actively disputing the claims, asserting that the issues raised do not constitute material breaches of the agreement. The company has expressed its intention to defend its position vigorously.

Despite the dispute, the distribution agreement remains effective, and discussions with Teoxane could potentially result in modifications to the agreement, including changes to minimum purchase obligations. These discussions are also impacting the timeline of Revance's merger process with the Buyer Parties. As a result, all parties involved agreed to push back the tender offer's start to no later than October 25, 2024, with the possibility of further delays or modifications depending on the outcome of the talks with Teoxane.

The delay in the tender offer could have various implications for the merger, which was initially announced on August 11, 2024, under the Merger Agreement. The company has stated that the merger agreement is still in place, and a waiver related to the extension has been filed with the SEC“

 

[anonymous]

“NASHVILLE, TN - Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology firm specializing in pharmaceutical preparations, announced on Friday an extension to the commencement date of a tender offer related to its planned merger with Crown Laboratories, Inc. and Reba Merger Sub, Inc. (collectively the "Buyer Parties"). The decision to delay the offer, initially set for October 18, 2024, comes as Revance engages in discussions with Teoxane SA concerning an existing distribution agreement.

The ongoing negotiations with Teoxane, a key partner for Revance, stem from a notice Revance received on August 16, 2024, alleging material breaches in their exclusive distribution agreement from January 10, 2020. The alleged breaches pertain to stock levels and efforts to promote and sell Teoxane products. Revance has denied these allegations and is actively disputing the claims, asserting that the issues raised do not constitute material breaches of the agreement. The company has expressed its intention to defend its position vigorously.

Despite the dispute, the distribution agreement remains effective, and discussions with Teoxane could potentially result in modifications to the agreement, including changes to minimum purchase obligations. These discussions are also impacting the timeline of Revance's merger process with the Buyer Parties. As a result, all parties involved agreed to push back the tender offer's start to no later than October 25, 2024, with the possibility of further delays or modifications depending on the outcome of the talks with Teoxane.

The delay in the tender offer could have various implications for the merger, which was initially announced on August 11, 2024, under the Merger Agreement. The company has stated that the merger agreement is still in place, and a waiver related to the extension has been filed with the SEC“

Can anyone share more insights on the dispute? Does Teoxane have a case or is the crazy CEO just trying to get more?

 

[anonymous]

Can anyone share more insights on the dispute? Does Teoxane have a case or is the crazy CEO just trying to get more?

Teoxane's agreement was with RVNC, selling of that agreement is not automatic. Teoxane and Blackrock are the largest shareholders of RVNC stock so I do not blame her for pushing back. The stock sale price is too low and she does not want Crown to distribute her Fillers in the USA, which she has every right to put up a fight, it's her company.

 

[anonymous]

So looks like the deal is safe again. Better Crown than the Prollenium option. I just want out of aesthetics, it’s no longer a good industry to be in.

 

[anonymous]

So looks like the deal is safe again. Better Crown than the Prollenium option. I just want out of aesthetics, it’s no longer a good industry to be in.

Then leave - no ones keeping you here

The deal is going to sell for even less now. No point in staying

 

[anonymous]

if you are not looking for a job, start yesterday.

 

[anonymous]

The Crown Deal is in SERIOUS risk of not closing by year end.... the company will go bankrupt if not. No bank will loan you more money with missing $$$ targets. My only hope is someone else steps in and buys this firesale of a deal.... what a sad, sad day.

Revance Therapeutics stock sinks amid `going concern' disclosure

 

[anonymous]

All of us are toast. If you bought into the ESPP, you're as dumb as this company is. The moment Foley started selling all his shared at 30s and 20s should have drew a major red flag for all of you. Not many jobs out there, not high paying anymore...big corporate isn't the easy to go these days. We are fucked.

We are all fucked. Quote of the century. Expect 6-9 months to find another position. 300-500 applicants per opportunity available.

 

[anonymous]

I think Prollenium would love to get their slimmy hands on Revance, but can’t. They don’t have the structure for that. Some of their employees are considering a lawsuit against Prollenium for all the awful and illegal things they let mark wilkins do. I hope it goes public so that man gets what he deserves - burn in hell. FDA is also investigating Prollenium so, again, don’t think they are a contender.

Teoxane in talks with Benev now. They no longer want their fillers associated with revance.

This industry is in trouble.

Hallelujah! It’s about time the FDA got involved in the Proshittium illegal, unethical business practices!

 

[anonymous]

One of the main issues crown is looking at are all the Free sample vials of RHA and Daxi that have been handed out to incentive physicians to purchase those products. These kickbacks are having serious repercussions in the talks as it’s reducing profitability by nearly half of whats shown on paper. The question crown is having is basically what would sales look like if you took away all the rep samples that are used as kickbacks to incentivize accounts to order. This is a problem that crown doesn’t want to be a part of with the legal issues surrounding anti kickback laws.

 

[anonymous]

One of the main issues crown is looking at are all the Free sample vials of RHA and Daxi that have been handed out to incentive physicians to purchase those products. These kickbacks are having serious repercussions in the talks as it’s reducing profitability by nearly half of whats shown on paper. The question crown is having is basically what would sales look like if you took away all the rep samples that are used as kickbacks to incentivize accounts to order. This is a problem that crown doesn’t want to be a part of with the legal issues surrounding anti kickback laws.

Agreed - but source?

 

[anonymous]

The Crown Deal is in SERIOUS risk of not closing by year end.... the company will go bankrupt if not. No bank will loan you more money with missing $$$ targets. My only hope is someone else steps in and buys this firesale of a deal.... what a sad, sad day.

Revance Therapeutics stock sinks amid `going concern' disclosure

I’d be fucking shocked if this shit goes through at this point. Nonstop delays, zero transparency. Stock will tank again on Tuesday lol

 

[anonymous]

“Revance Therapeutics (NASDAQ:RVNC)plunged 16% in after hours trading after the company disclosed that there's substantial doubt about its ability to contine as a "going concern." The company also missed Q3 revenue estimates and withdrew its 2024 guidance and said there's a potential that Crown Laboratories deal may be terminated.”
Bad luck for Revance and Teoxane. Poor business practices never pay out. Greed over people.

 

[anonymous]

“Revance Therapeutics (NASDAQ:RVNC)plunged 16% in after hours trading after the company disclosed that there's substantial doubt about its ability to contine as a "going concern." The company also missed Q3 revenue estimates and withdrew its 2024 guidance and said there's a potential that Crown Laboratories deal may be terminated.”
Bad luck for Revance and Teoxane. Poor business practices never pay out. Greed over people.

Dumpster fire. Does anyone see a way forward?

 

[anonymous]

Dumpster fire. Does anyone see a way forward?

Not really. Maybe it will get bad fast, company bankrupts and the PE firm that owns Prollenium will buy it so they can dump the combined company. Companies like Revance and Prollenium are so dirty that it is impossible for any serious player to continue a deal if they complete a proper due diligence. Because if they do, they will see what a bunch of illegal, shady, unethical, you name it, type of practices these two have been doing. Prollenium got lucky a very inexperienced PE team bought them. Crown, on the other hand, heard about these schemes and looks like they are doing proper diligence. The lawsuit with Teoxane didn’t help because it just showed how messy Revance is.

 

[anonymous]

Hallelujah! It’s about time the FDA got involved in the Proshittium illegal, unethical business practices!

I got a text telling me people were finally opening up about Prollenium and the shit show it is. Proshitium is a good name. Or Prolletution because that’s what their manager expects of us: prostitution.
Revance friends, sorry about your situation. Welcome to the let’s get out of this shit show club