Eton Pharmaceuticals, Inc. (ETON): M&A transaction — Eton Pharma acquires U.S. rights to HEMANGEOL for $14M upfront

Eton Pharmaceuticals, Inc.

Eton pays $14M upfront plus 8% royalty; $1.5M inventory at close and $0.7M in May 2026.
HEMANGEOL is the only FDA-approved treatment for proliferating infantile hemangioma; 2025 sales $11.7M.
Deal financed with cash on hand; expected to be accretive to 2026 earnings.
Pierre Fabre distributes until April 30; Eton commercializes from May 1 via Eton Cares program.
Acquisition gives Eton ten commercial rare-disease products, including recent DESMODA approval.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Eton Pharmaceuticals, Inc. completed an acquisition involving Pierre Fabre Medicament Sas for $14.0 million upfront and an 8% royalty on net sales for the duration of the product’s patent protected life, plus approximately $1.5 million of inventory at cl (closed 2026-02-27).

Action: acquisition
Counterparty: Pierre Fabre Medicament Sas
Consideration: $14.0 million upfront and an 8% royalty on net sales for the duration of the product’s patent protected life, plus approximately $1.5 million of inventory at cl
Closing: 2026-02-27

Exact text from the filing

rights to HEMANGEOL® (propranolol) oral solution from Pierre Fabre Medicament Sas (“Licensor”). HEMANGEOL® is an Orphan Drug indicated for the treatment of proliferating infantile hemangioma requiring systemic therapy.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Eton Pharmaceuticals, Inc. entered into Licensing Agreement with Pierre Fabre Medicament Sas valued at $14.0 million upfront (effective 2026-02-27).

Action: entry
Agreement: license
Counterparty: Pierre Fabre Medicament Sas
Value: $14.0 million upfront
Effective: 2026-02-27

Exact text from the filing

On February 27, 2026, Eton Pharmaceuticals, Inc. (“Eton” or the “Company”) entered into a licensing agreement and acquired the U.S. rights to HEMANGEOL® (propranolol) oral solution from Pierre Fabre Medicament Sas (“Licensor”).

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Eton Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-26-006209

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