Actavis to Acquire Durata Therapeutics for $675 Million
Actavis plc has agreed to acquire the specialty pharmaceutical company, ;Durata Therapeutics, for $23.00 per share in cash, or approximately $675 million in the aggregate, and contingent value rights (CVRs) entitling Durata Therapeutics to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata’s lead product, Dalvance. (dalbavancin) for injection. Dalvance is an antibiotic for treating acute bacterial skin and skin structure infections (ABSSSI) with once-a-week dosing for two weeks.
Dalvance was approved by the
“The acquisition of Durata is a strong strategic fit that strengthens
Under the terms of the definitive merger agreement, it is anticipated that
Under the terms of the definitive merger agreement, the completion of the tender offer is conditioned upon, among other things, satisfaction or waiver of customary terms and conditions, including a minimum tender condition requiring that the securities tendered in the tender offer represent at least one share more than 50 percent of the outstanding shares of Durata common stock on a fully-diluted basis. In addition, the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Pending approvals,