Nichi-Iko acquiring Sagent

Nichi-Iko Pharmaceutical Co. Ltd. (Tokyo:4541) said it will acquire generics company Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) for $21.75 per share in cash, a 40% premium to Sagent's July 8 close of $15.50. The companies said the deal values Sagent at about $736 million.

The companies said the deal will give Nichi-Iko greater access to U.S. markets for its biosimilars. Its pipeline includes biosimilars of Remicade infliximab, Rituxan/ MabThera rituximab and Herceptin trastuzumab. ...