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