BioPharma Dive January 19, 2022
Belgium’s UCB on Wednesday said it has agreed to acquire Zogenix for as much as $1.9 billion in a deal centered around an epilepsy drug the California-based biotech brought to market 18 months ago.
UCB will pay $26 per share in cash to get ahold of Zogenix and its drug Fintepla, which U.S. regulators approved in June 2020 to treat a rare chronic form of epilepsy known as Dravet syndrome. The Belgian drugmaker will add another $2 per share payment for Zogenix stockholders, as well, if Fintepla is cleared in Europe for another rare epilepsy called Lennox-Gastaut syndrome by the end of 2023.
Both boards have approved the buyout, which is expected to close in the second quarter.
The acquisition...
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