Actavis and Durata Therapeutics have inked a definitive agreement to acquire Durata Therapeutics for $675 million.
Under the deal, a subsidiary of Actavis will begin a tender offer to buy all outstanding share of Durata common stock for $23.00 per share in cash, or about $675 million.
Actavis focuses on developing, manufacturing and commercializing generic and brand pharmaceutical compounds worldwide.
Its portfolio is broad, with products for the treatment of CNS disorders, gastroenterology, women’s health, urology, cardiovascular, respiratory and anti-infective medications.
Durata focuses on infectious disease treatments and other acute illnesses. In particular, Durata sells DALVANCE (dalbavancin), an injectable antibiotic for acute bacterial skin and skin structure infections (ABSSSI).
The drug was approved in the U.S. by the FDA in May 2014, the first drug to be approved as a Qualified Infectious Disease Product (QIDP). It is also under review with the European Medicines Agency.
For further deal information visit Current Agreements (subscription required)
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