Actelion Forks Over $250M For Pa. Drugmaker

Law360, New York (August 2, 2013, 6:27 PM EDT) -- Actelion US Holdings Co., a subsidiary of Swiss biotechnology giant Actelion Ltd., will acquire Pennsylvania drugmaker Ceptaris Therapeutics Inc. for a total of $250 million, it was announced Wednesday.

Under the deal, Actelion said it has paid Ceptaris $25 million upon signing of the merger agreement and will pay Ceptaris’ shareholders $225 million upon the closing of the transaction, according to a company statement.

However, the deal is contingent on Ceptaris’ chief product Valchlor, a topical drug intended to treat a form of cancer, securing approval...
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