Wednesday, July 31, 2013
Actelion buys U.S.-based firm with cancer drug in development
A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel, April 23, 2011.
Credit: Reuters/Christian Hartmann
ZURICH |
(Reuters) - Actelion said it will acquire Ceptaris, a privately held U.S.-based specialty pharmaceutical company developing a topical drug, Valchlor, to treat a form of cancer.
Allschwil-based Actelion said it already paid Ceptaris $25 million and will pay another $225 million when the deal closes. The deal is contingent on Valchlor clinching approval from the U.S. health regulator.
"We expect the transaction to become cash-accretive before the end of 2014," Actelion executive Nicholas Franco said in a statement on Wednesday.
(Reporting By Katharina Bart)
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