Cosette Taps Legal Vet Erika Tooman to Steer Aggressive M&A Strategy

BRIDGEWATER, NJ – April 29, 2026 – In a move that signals a significant acceleration of its growth ambitions, Cosette Pharmaceuticals, Inc. today announced the appointment of Erika Tooman as its new Senior Vice President and General Counsel. The strategic hire places a seasoned pharmaceutical legal expert at the helm of the company’s legal and compliance functions, a critical step as the private equity-backed firm prepares to execute an aggressive expansion strategy centered on high-stakes acquisitions and portfolio development.

Tooman, who brings over two decades of experience in the pharmaceutical sector, joins Cosette’s executive team at a pivotal moment. Backed by healthcare-focused private equity firm Avista Healthcare Partners and investment manager Hamilton Lane, Cosette is poised to leverage its strengthened balance sheet to build on a recent string of acquisitions. The appointment is being interpreted by industry observers as a clear indication that the company is staffing up not just for growth, but for the complex legal and regulatory challenges that accompany it.

"We are excited to leverage Erika's stellar career as Cosette enters its next phase of growth – expanding our portfolio, integrating new assets and scaling our platform," said Apurva Saraf, President and CEO of Cosette Pharmaceuticals, in a statement. Her role will be central to navigating the intricate landscape of pharmaceutical M&A, ensuring the company can move swiftly and decisively on new opportunities.

An Architect for Ambitious Expansion

Cosette has made no secret of its intent to grow through acquisition. The company’s strategy focuses on acquiring established, often patent-protected branded assets to diversify its offerings. This “buy and build” approach has been evident in its recent activities, including the acquisition of the well-known brands Ambien® and Ambien CR® in the United States from Sanofi.

More recently, Cosette significantly expanded its portfolio by acquiring the U.S. rights for seven branded products from Assertio Holdings, Inc. That deal brought in SYMPAZAN®, a patent-protected treatment, alongside a suite of branded non-steroidal anti-inflammatory drugs (NSAIDs) for pain management and migraine, such as INDOCIN® and CAMBIA®. This move solidified the company's focus on specialty therapeutic areas like pain and inflammation.

The scale of Cosette’s ambition was further highlighted by its attempted $430 million acquisition of Mayne Pharma in 2025. While the deal, which would have solidified Cosette’s leadership in women’s health and expanded its global reach, was ultimately terminated due to intervention by the Australian government citing national interest, it revealed the company's aggressive and international mindset. It also underscored the complex geopolitical and regulatory hurdles that can arise in large-scale M&A, reinforcing the need for expert legal counsel.

In this context, Tooman is not just a general counsel but a strategic architect. Her mandate extends beyond traditional legal oversight to encompass all legal, compliance, governance, and risk management matters, serving as a key advisor to the executive team and Board of Directors on the company’s active business development agenda.

A Veteran of High-Stakes Pharmaceutical Deals

Tooman’s resume is tailor-made for a company on an aggressive growth trajectory. Most recently, she served as Chief Legal Officer, Corporate Secretary, and Chief Compliance Officer at Radius Health, where she was a core member of the executive team. There, she played a central role in major litigation, royalty monetization transactions, and strategic M&A initiatives.

Her experience in realizing value from intellectual property is particularly notable. Earlier in her career, as Senior Patent Counsel at Ikaria, Tooman was instrumental in securing significant exclusivity extensions for the company’s products—a critical function for maximizing revenue in the pharmaceutical industry. Her work in growing Ikaria’s global IP portfolio and supporting key corporate transactions was a vital part of the value creation that preceded its major acquisition by Mallinckrodt Pharmaceuticals in 2015. This deep background in patent law, combined with her Juris Doctor from Brooklyn Law School and a Master of Biotechnology from Columbia University, gives her a rare dual-fluency in both the legal and scientific foundations of the industry.

"Cosette has built a strong platform with an ambitious vision for growth,” Tooman stated. “I’m excited to join a leadership team that values rigor, partnership, and long‑term thinking. I look forward to helping Cosette navigate complexity, and support strategic initiatives that drive durable value for patients, partners, and shareholders.”

Navigating the Regulatory Gauntlet

The appointment comes as the specialty pharmaceutical sector faces a uniquely challenging legal and regulatory environment. The industry is driven by a constant race against the “patent cliff,” with an estimated $61 billion in annual sales at risk through 2030 due to expiring patents. This pressure cooker is a primary driver of the M&A activity that Cosette is pursuing, making robust IP due diligence and protection more critical than ever.

Furthermore, private equity-backed acquisitions in healthcare are facing increased scrutiny from antitrust authorities concerned about market consolidation and rising prices. As Cosette continues its strategy of acquiring and integrating assets, it will have to meticulously navigate this complex oversight. Tooman’s role will be to ensure that this aggressive growth is managed with sound governance and an unwavering commitment to compliance, mitigating the risks that could otherwise derail the company’s ambitions.

As Saraf noted, Tooman’s ability to “navigate complexity will be critical.” Her appointment is a proactive measure to ensure Cosette has the legal and strategic firepower necessary to not only acquire new assets but to successfully integrate and defend them in a highly competitive and regulated market. This strategic reinforcement of its leadership team positions Cosette to continue its transformation from a U.S.-based specialty company into a more formidable player on the pharmaceutical stage.