Dura, Dura Delivery Systems Inc. deal

DURA will exercise its option to purchase all of the common stock of Dura Delivery for 1.1 million shares of DURA. DURA, which closed at $27.25 on Friday, also will assume a $10 million loan made to Dura Delivery by partner Elan Corp. plc. (ELN).

Dura Delivery was formed in 1993 to develop DURA's dry powder inhaler, a pulmonary delivery system for use with currently marketed asthma drugs. The Dryhaler currently is in clinical development. ...