Keyword: Vitae Pharmaceuticals
Both drugs held up as the drivers for Allergan’s $639 million purchase of Vitae have now been dropped.
The deal gives Boehringer access to Gubra’s expertise in the design, synthesis and preclinical testing of therapeutic peptides.
Allergan took an R&D hit this quarter as it emerged from analysts that a Phase II test of dermatology med VTP-38543, acquired as part of a $640 million buyout deal of Vitae in September, has failed.
Allergan has continued on its post-Pfizer deal-that-never-was M&A spree with a $639 million deal to acquire small cap dermatology biotech Vitae Pharmaceuticals.