AstraZeneca Spends $443M On Lipid Drug Specialist

Law360, New York (May 28, 2013, 5:10 PM EDT) -- AstraZeneca PLC has agreed to buy New Jersey-based Omthera Pharmaceuticals Inc. in a deal worth up to $443 million, allowing it to supplement its blockbuster cholesterol drug Crestor with Omthera's upcoming triglyceride treatment Epanova, the companies announced Tuesday.

Under the terms of the deal, Omthera shareholders will receive $12.70 per share, an 88 percent premium over the closing price on Friday — a total of $323 million — resulting in AstraZeneca shelling out $260 million after an offset from cash-on-hand at Omthera. The agreement also has a provision...
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