Spectrum To Pay $206M For Cancer Drug Manufacturer

Law360, New York (April 5, 2012, 2:56 PM EDT) -- Nevada drug company Spectrum Pharmaceuticals Inc. has acquired Colorado-based drugmaker Allos Therapeutics Inc., which manufactures a leading cancer treatment drug, for roughly $206 million, Spectrum said Thursday.

Spectrum said it had agreed to acquire the outstanding shares of Allos, which makes and markets the Folotyn cancer drug, for $1.82 per share plus one contingent value right.

The transaction is expected to close in the second quarter of 2012.

Spectrum Chairman, President and CEO Rajesh Shrotriya said in a statement that the company plans to leverage the...
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