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Ligand acquires Vernalis for $42.3mm

Executive Summary

Ligand Pharmaceuticals Inc. launched an offer to acquire publicly traded biotech Vernalis PLC (structure-based drug discovery). The offer, which requires approval by at least 75% of Vernalis stockholders, has received support of 67% so far, including its two largest shareholders (IAML and Woodford Investment Management). Earlier this year, Vernalis announced it was looking for strategic alternatives to cope with closure of its US commercial operations.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Intra-Biotech Deal
    • Payment Includes Cash

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