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...
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