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Anika acquires Fidia subsidiary

December 31, 2009 10:48 PM UTC

Anika Therapeutics Inc. (NASDAQ:ANIK) acquired Fidia Advanced Biopolymers s.r.l. in a cash and stock deal valued at about $33.9 million. The deal includes $17.1 million in cash and 2 million Anika shares valued at $16.8 million based on Anika's close of $8.49 on Wednesday, before the deal was announced. Anika gains Fidia's Hyalograft C hyaluronan biopolymer scaffold, a cell culture matrix marketed in Europe for cartilage repair. At Sept. 30, 2009, Fidia reported 12-month revenue of $11.1 million. The company is a subsidiary of Fidia Farmaceutici S.p.A. (Abano Terme, Italy). ...