ARTICLE | Company News

SciClone expands China ops with NovaMed buy

April 20, 2011 1:10 AM UTC

SciClone Pharmaceuticals Inc. (NASDAQ:SCLN) acquired Chinese specialty pharma NovaMed Pharmaceuticals Inc. (Shanghai, China) in a cash and stock deal. NovaMed shareholders will receive $24.7 million in cash and 8.3 million SciClone shares, plus up to $43 million in contingent payments based on 2011 and 2012 revenue and earnings targets. The SciClone shares are valued at $37.1 million based SciClone's Monday close of $4.57, before the deal was announced. ...