Sunovion To Lay Down Up To $430M For Elevation Pharma

Law360, New York (August 30, 2012, 8:53 PM EDT) -- Sunovion Pharmaceuticals Inc. has agreed to pay up to $430 million to buy San Diego-based respiratory drugmaker Elevation Pharmaceuticals Inc. in a deal that includes its chronic obstructive pulmonary disease treatment, still in development, the companies said Thursday.

Sunovion, which manufactures therapies for respiratory and central nervous system diseases, will acquire Elevation with a $100 million up-front payment to its shareholders and will make development milestone payments for the COPD drug, EP-101, of up to $90 million, according to a statement by Sunovion. Milestone payments are...
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