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Astellas Bows Out Of Try For CV Therapeutics

This article was originally published in PharmAsia News

Executive Summary

Astellas Pharma is canceling plans for a hostile takeover of U.S.-based CV Therapeutics. The decision followed an agreement by CV's board to accept the bid of Gilead Sciences. In addition to withdrawing from the acquisition bid, Astellas also said it would drop its court case that sought to challenge CV's efforts to block the Astellas bid. Astellas ended up bidding $4 per share less than Gilead for control of CV. (Click here for more



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