Minnesota biotech to buy Guilford Pharmaceuticals

MGI Pharma plans to buy Guilford Pharmaceuticals, which boasts two cancer drugs in its pipeline, in a deal worth about $177.5 million. Guilford is developing Giladel, a chemotherapy wafer for brain tumors, and Aquavan, a sedative. "This strategic transaction significantly advances our efforts in building an acute care business and enhances our existing oncology franchise as we create a leading biopharmaceutical company," said Lonnie Moulder, president and CEO of MGI. "In addition to a talented group of people, this transaction brings several important assets to MGI Pharma."

- read this story from the Baltimore Business Journal for more

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