€70 million for French VCs from Santen’s acquisition of ophthalmic firm Novagali
This article was originally published in Scrip
Executive Summary
Santen Pharmaceutical of Japan, which has a focus on ophthalmic pharmaceuticals, is to buy French company Novagali Pharma at a valuation in excess of €100 million. Santen will pay €6.15 per share, a 74% premium to Novagali’s stock price on 27 September, and an 81% premium to the company’s share price at its IPO just over a year ago. Santem will acquire 50.55% of Novagali from its main shareholders and then launch a tender offer for the rest of the outstanding shares.
You may also be interested in...
UK Reimbursement Decisions Focus Mostly On Cancer
The UK's main reimbursement bodies made a series of decisions this week that were broadly favorable and largely focused on oncology medicines.
Deal Watch: Valeant Sells Off iNova To Finance Debt-Reduction Efforts
While troubled Valeant was divesting iNova to private equity investors, Novartis announced a pair of oncology-focused deals, out-licensing a brain cancer drug to Midatech and partnering with IBM Watson Health to optimize breast cancer treatment.
Pfizer/Astellas Amend Trial To Position Xtandi In Early Prostate Cancer
Astellas and Pfizer have amended the PROSPER trial protocol in a bid to position Xtandi ahead of Zytiga in the early stage prostate cancer market.