AstraZeneca today said that the FDA has accepted its application for its omega-3 drug Epanova, newly added to the struggling giant's pipeline after striking a $437 million deal to buy Omthera.
Pipeline-starved AstraZeneca snapped up Omthera.
The Big Pharma company--which is attempting to repair one of the most badly damaged pipelines in the industry--is paying $12.70 a share for the company, or $323 million, along with up to $120 million in contingent value rights, based on the success of Omthera's omega-3 drug Epanova.
Two biotech players have offered price ranges for their hoped-for initial public offerings. Chimerix aims to sell 6.1 million shares for between $13 and $15 per share, and Omthera has priced its IPO shares in the $12 to $14 range.