Lev Pharma Attracts ViroPharma With Orphan Drug

July 2008 | M&A News Alert

ViroPharma agreed on July 15 to acquire New York-based Lev Pharmaceuticals. The acquisition will add Cinryze, Lev's hereditary angioedema (HAE) drug which is in line to be reviewed by the US Food and Drug Administration (FDA) on Oct 14, to ViroPharma's inventory. Pennsylvania-based ViroPharma will pay US$2.25 per share in cash and US$0.50 per share in ViroPharma common stock to Lev's shareholders upon deal completion. The deal, which could reach a value as high as US$617mn if the drug reaches certain milestones, has been unanimously approved by both companies' boards and is expected to close by the end of the

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.