Boehringer buys Actimis for $515

Boehringer Ingelheim is shelling out $515 million to acquire San Diego-based Actimis Pharmaceuticals, which is developing asthma and allergy drugs. Boehringer will acquire shares of Actimis as the company reaches milestones in the development of its lead compound AP768, an asthma and allergic rhinitisdrug that is currently in Phase I. The company will purchase all of Actimis' shares if the compound reaches Phase III.

"Actimis' compound provides an innovative addition to Boehringer Ingelheim's portfolio of development candidates for the potential treatment of respiratory diseases", said Dr. Andreas Barner, a Vice-Chairman at Boehringer Ingelheim. This is the first biotech takeover for Boehringer, which is Germany's second largest pharma company.

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