Wednesday, 23 January 2013

Allergan to buy MAP Pharma for about $958 million

(Reuters) - U.S. specialty drugmaker Allergan Inc said late on Tuesday that it would buy MAP Pharmaceuticals Inc for about $958 million in cash, to deepen its presence in the treatment of migraines in adults. Under the deal, Allergan will acquire 100 percent of the shares of MAP Pharmaceuticals at $25 per share, a 60 percent premium over MAP's closing stock price on the Nasdaq of $15.58 on Tuesday. MAP Pharmaceuticals is developing Levadex, an orally inhaled drug for the acute treatment of migraines in adults. Levadex is currently under review by the U.S. Food and Drug Administration. ... via Health News Headlines - Yahoo! News Read More Here..

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