Sagent Pharmaceuticals, Nichi-Iko deal

Nichi-Iko will acquire generics company Sagent for $21.75 per share in cash in a deal the companies say value Sagent at $736 million. The price is a 40% premium to Sagent’s July 8 close of $15.50, the last trading day before the deal was announced. The deal is expected to close in the second quarter of Nichi-Iko’s fiscal year ending March 2017.

The companies said the deal will give Nichi-Iko greater access to U.S. markets for its biosimilars, which include biosimilars of Remicade infliximab ( GS071), Rituxan/ MabThera rituximab ( AP056) and Herceptin trastuzumab ( AP063). In May, Nichi-Iko said it was developing the trastuzumab biosimilar simultaneously in Japan and the U.S. to accelerate its U.S. launch. ...