More Mergers in the Pharmaceutical Industry
Pharmion, a company that focuses on the treatment of hematology and oncology will purchase Cabrellis Pharmaceuticals (formerly Conforma Therapeutics) for $59 million in cash. The main product acquired is Amrubicin, an anthracyclin which is used for the treatment of lung cancers. If the product is approved there are other payments involved.
This merger makes sense on the surface and is one of substance which makes sense for Pharmion. I don’t think they are just going along with the mergers are good mentality. This leads me to believe that the merging activity will continue for the foreseeable future.
Technorati Tags: Cabrellis, Pharmion
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