Axcan To Pay Up To $230M For Rival Mpex

Law360, New York (April 14, 2011, 4:57 PM EDT) -- Specialty pharmaceuticals company Axcan Holdings Inc. said Thursday it had agreed to pay as much as $230 million to acquire Mpex Pharmaceuticals Inc. and develop Mpex’s Aeroquin treatment for pulmonary infections in cystic fibrosis patients.

Axcan, a privately held company that focuses on treating gastrointestinal issues, agreed to pay $17.5 million to Mpex stockholders under the merger agreement and to provide an additional $195 million if Aeroquin meets certain regulatory and commercial milestones, according to a regulatory filing with the U.S. Securities and Exchange Commission....
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