ARTICLE | Company News

Respironics to acquire PTP

May 21, 2004 7:00 AM UTC

RESP said it will make a cash offer of 50.9p per share for respiratory company Profile Therapeutics (LSE:PTP), valuing the company at about L25.3 million ($44.6 million). The offer is a 27% premium to PTP's closing price on March 18 of 40p, the day before it first announced it was in offer talks with an undisclosed company. PTP will become a wholly owned subsidiary of RESP.

PTP markets Promixin for use in combination with its Adaptive Aerosol Delivery (AAD) core respiratory delivery system to treat aeruginosa lung infections, particularly in cystic fibrosis. PTP is RESP's distributor for sleep and ventilation products in the U.K. ...