Teva Outbids Endo to Secure NuPathe Acquisition
Heather Cartwright
Abstract
Teva Pharmaceutical Industries has outbid Endo Health Solutions with a deal to buy neurology specialist NuPathe for US$144 M upfront in order to gain access to Zecuity® (sumatriptan iontophoretic transdermal system), a prescription migraine patch that was approved by the US FDA in January 2013. NuPathe shareholders also stand to receive up to US$3.15 per share in contingent consideration linked to net sales levels of the product. Teva is in need of new sources of revenue ahead of the arrival of generic competition on its key asset Copaxone® (glatiramer acetate), which could occur in June 2014.
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