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AstraZeneca buys into cardio again; pays $310mm for Omthera Pharmaceuticals

Executive Summary

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.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Includes Earnout
    • Payment Includes Cash

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