Ipsen completes acquisition of Tercica
October 21, 2008--France-based specialty pharmaceutical company Ipsen has completed acquisition of Tercica, a biopharmaceutical company developing and marketing a portfolio of endocrine products
Under the terms of the transaction, Ipsen paid $9 per outstanding share in cash and the built-in gain in unexercised stock options to acquire the remaining shares of Tercica, resulting in a total payment of approximately $373 million.
As a result of the merger, Tercica becomes a privately held company, wholly-owned by Ipsen.
Jean-Luc Belingard, chairman and CEO of Ipsen, said: "The combination of Ipsen and Tercica's clinical development expertise will allow further innovation in patient care from our rich R&D pipeline. With the acquisition of Tercica, Ipsen completes a major strategic milestone in its plan to deliver accelerated growth."