Frazer, PA-based Cephalon has agreed to pay $360 million to acquire the UK's Zeneus Pharma. The acquisition gives Cephalon a pipeline directly into the European oncology market. Zeneus makes Myocet for late-stage breast cancer and Targretin for T-cell lymphoma. Zeneus is expected to gain $100 million in revenue next year. Cephalon will add offices in Spain and Italy and bolster its existing presence in France, Germany and the UK. "This agreement will significantly expand our product portfolio in Europe and is consistent with our strategy and recent transactions in the United States that create a platform from which we will grow our oncology business," said Frank Baldino, Jr., Ph.D., chairman and CEO of Cephalon.
- read this report from MarketWatch for more information