Vernalis, Paul Capital Partners deal

Paul Capital's Paul Capital Healthcare fund paid E18.4 million ($29.1 million) in cash to purchase a 90% share of the revenue payments Vernalis receives from Menarini Group Ltd. (Florence, Italy) for Migard frovatriptan in Europe and Central America. Menarini's 2007 sales of the selective serotonin (5-HT1B/1D) receptor agonist were E22 million ($32.1 million). Vernalis said Menarini plans to submit a regulatory application in the EU to expand Frova's label to include the prevention of menstrual migraine, although a timeline was not disclosed. ...