British Biotech buys Vernalis for £47.3m
Aiming to augment its product pipeline, British Biotech PLC (matrix metalloproteinase inhibitors, MMPIs) is acquiring Vernalis Group PLC (develops CNS drugs) in a stock swap transaction worth £47.3mm ($79.7mm), or over 8 times Vernalis's 2002 sales. The combined entity will create the sixth largest biotech in the UK.
- Full Acquisition
- Intra-Biotech Deal
- Payment Includes Stock
- Reverse Acquisition
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