LEO Pharma To Purchase Peplin For $287.5M

Law360, New York (September 3, 2009, 12:26 PM EDT) -- Danish pharmaceutical company LEO Pharma A/S has announced plans to acquire Peplin Inc. for $287.5 million, a move intended to bolster LEO's line of dermatology products.

The companies announced the acquisition in a joint statement Wednesday. In addition to the all-cash deal, LEO will provide Peplin with access to a loan facility of up to $24 million to fund ongoing operations until the transaction closes, according to Peplin's latest filing with the U.S. Securities and Exchange Commission.

The transaction, which is subject to the approval of...
To view the full article, register now.