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Solstice, US WorldMeds deal

August 23, 2010 7:00 AM UTC

US WorldMeds acquired Solstice Neurosciences for $35.7 million. US WorldMeds gains Solstice's manufacturing facility in San Francisco and rimabotulinum toxin B injection solution, which is marketed as Myobloc in the U.S. and as NeuroBloc in Europe and Korea to reduce the severity of abnormal head position and neck pain in patients with cervical dystonia. The acquisition was financed through a combination of $15.4 million in private investment, a loan from JPMorgan, existing cash and a seller-held note. ...