Another Merger: Actavis to Buy Abrika for $238.5 Million
Actavis is an Icelandic generics manufacturer that has agreed to purchase Abrika for $238.5 million, $110 million in cash and an additional $125 million over the next three years based upon performance.
They will have a powerful pipeline of controlled release drugs with 50 products in the pipeline. Abrika was focusing on reformulating drugs coming off patent and developing controlled released version that would allow dosing once or twice a day instead of multiple times a day. THey have other technolgies such as transmucosal delivery, instant oral release, and others.
You may remember that Actavis was the company locked in a bidding war with Barr Labs over the Crotian company Pliva.
Technorati Tags: Actavis, pharma M&A, pharmaceutical deals, pharmaceutical formulated intermediate, Abrika
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