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Allergan acquiring NASH companies Tobira, Akarna

September 20, 2016 7:00 AM UTC

Allergan plc (NYSE:AGN) said Tuesday it had acquired a pair of companies with "complementary" assets to treat non-alcoholic steatohepatitis. Before market hours, it said it would buy Tobira Therapeutics Inc. (NASDAQ:TBRA). After market close, it said it had acquired Akarna Therapeutics Ltd. (Cambridge, U.K.).

In the Tobira deal, Allergan is paying $28.35 per share in upfront cash plus a contingent value right (CVR) worth up to $49.84 per share tied to four development, regulatory and commercial milestones. If all the milestones are met, Tobira shareholders would receive a total of about $1.7 billion, including the upfront payment. ...