Ethical, Beta Pharmaceuticals Corp. deal

The companies signed a definitive agreement for ETHCY to buy Beta for $12.7 million in stock and cash. Beta sells four- and seven-day estradiol patches and is developing a seven-day 17-beta estradiol/norethisterone combination patch for hormone replacement therapy. American Home Product's Wyeth-Ayerst affiliate has exclusive worldwide rights to the products, excluding Argentina, where it has semi-exclusive rights. Wyeth-Ayerst has begun Argentinean sales of the seven day estradiol patch. ETHCY will rename the company Beta Ethical Pharmaceuticals S.A. ...