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Australia Biotech Arana Shareholders Get Better Offer From Cephalon

This article was originally published in PharmAsia News

Executive Summary

Owners of more than one-fifth of the shares in Australia's Arana Therapeutics have accepted a buyout offer from U.S. drug maker Cephalon. As a result, Cephalon made some changes in the offer it made to shareholders to make selling more attractive as it seeks a 50.1 percent share of Arana. Arana's board of directors still has not found a company willing to make an alternative proposal. Analysts have said Arana is worth more than Cephalon is offering because of the Australian firm's psoriasis and arthritis antibody drug, ART621. (Click here for more



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