Big biotech, Big pharma, M&A

Biogen Idec acquires Convergence Pharmaceuticals

Posted on 13 January 2015

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Biogen Idec plans to leverage Convergence’s expertise in chronic pain research and clinical development to accelerate the growth of its pain portfolio.

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Biogen Idec will pay Convergence shareholders an upfront payment of $200 million.

Convergence shareholders are eligible to receive additional payments up to $475 million contingent on future milestones.

Convergence will continue to operate out of Cambridge, U.K., under the leadership of its Chief Scientific Officer, Simon Tate.

For further deal information visit Current Agreements (subscription required)

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