AstraZeneca buys into cardio again; pays $310mm for Omthera Pharmaceuticals
For the second time in two months, AstraZeneca PLC has boosted its cardiovascular drugs business, this time through the purchase of Omthera Pharmaceuticals Inc., a five-year-old public specialty pharma company developing therapies for lipid disorders. AZ paid $310mm up front ($12.70 per share, an 80% premium), and sweetened the offer with contingent value rights (CVRs) of up to $4.70 per share, or an additional $120mm in total if all CVR milestones related to Omthera's lead candidate Epanova are met. The Big Pharma also takes on Omthera’s cash balances of about $63mm.
- Specialty Pharmaceuticals
- Full Acquisition
- Includes Contract
- Includes Earnout
- Payment Includes Cash
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