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ViroPharma to buy Lev for $442M
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ViroPharma has forged a deal to buy Lev Pharmaceuticals--a developer focused on developing inflammatory therapies--for $442 million. The deal provides ViroPharma with Lev's Cinryze program, a late-stage therapy under FDA review as a replacement therapy for hereditary angioedema. ViroPharma will pay $2.25 per share in cash and 50 cents per share in stock.
"This transaction is consistent with ViroPharma's stated objective of broadening our portfolio of therapies for serious life-threatening conditions in selected specialty markets," commented Vincent Milano, ViroPharma's president and chief executive officer. "We are very pleased to add the expertise of Lev to our organization, and Cinryze to our growing portfolio of options for underserved patient populations with critical and urgent needs."
- check out the buyout release
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Comments
By gbehring | Posted 2:14pm | July 15, 2008
What are the interesting questions regarding Pharming.
Jerini, working in the same therapeutical field (Angioedema) as Pharming received the EMEA approval for its product Icatibant earlier this year. A few weeks later they were sold to the Shire Group for 350 Million Euro the stock proce reached 6 Euro from former 2 Euros.
Pharming is awaiting the FDA approval early 2009 and the EMEA approval later in 2009. After the first rejection of the Rhucin Approval the stock price went down to 80 Cent.
It is no doubt that Pharming with its Transgenic Technology has much more in their pipeline than a product like Rhucin for treating Angioedema, there are much more products and indications.
So Pharming should concentrate on finding a strategic partner, which would cause a major benefit for all shareholders.
The question is why The Board does not force this and is actually much more concentrating in looking for a new CEO. The floor whistling says that Sijmen de Vries, actually CEO at 4 Antibodies AG will follow Francis Pinto as new CEO at Pharming very soon. The question remains, is that a sufficient strategy for the near future and the development of the company?
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