ARTICLE | Company News

Medivir to bolster sales force with BioPhausia buy

April 12, 2011 12:28 AM UTC

Medivir AB (SSE:MVIR B) will acquire specialty pharma BioPhausia AB (SSE:BIOP) in a cash and stock deal that values BioPhausia at SEK1.65 per share, or about SEK565 million ($91 million). The price is a 45% premium to BioPhausia's Friday close of SEK1.14, before the deal was announced. Medivir said the acquisition will expand its commercial activities in the Nordic region in advance of the potential launch and commercialization of HCV candidate TMC435. The HCV NS3/4A protease inhibitor is in Phase III testing. Tibotec Pharmaceuticals Ltd., a unit of Johnson & Johnson (NYSE:JNJ), has ex-Nordic rights to develop and commercialize TMC435 from Medivir. ...