Finance / United States
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Lev Pharma Attracts ViroPharma With Orphan Drug
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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