Report: Arbor Pharma goes on the block for $1B-plus

Private drugmaker Arbor Pharmaceuticals is looking for a buyer, according to Reuters, going on the market with a price tag that could exceed $1 billion.

The Atlanta-headquartered company has retained JPMorgan Chase to spread the word of its availability, Reuters' sources say, talking up the potential of its on-the-market cardiology and pediatric drugs plus its pipeline of proprietary products.

The majority of Arbor's marketed products are generics, but the company has branched out into developing molecules of its own, including the neurology treatment AR02, a drug under FDA review on which the company expects a final decision by Oct. 23. Arbor is also at work on the late-stage cardio drug AR05, the Phase III hospital-care treatment AR10 and the Phase II pediatric psychiatry candidate AR08.

Arbor's approach to specialty pharma involves spotlighting treatments that can be quickly brought to market, whether via internal development or in-licensing. Last year, the company struck a deal with Takeda that gave U.S. rights to two hypertension treatments, and Arbor paid undisclosed sum to Eisai the year before to market Gliadel Wafer, an in-hospital treatment used during brain cancer surgeries.

The company's reported interest in a deal comes amid a surge of M&A in the biopharma world, as patent expiries and reimbursement woes have left large drugmakers hungry for buyouts, while soaring valuations have smaller outfits commanding record price tags.

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