Actavis raises stakes in ABSSSI race

Actavis plc (NYSE:ACT) will acquire Durata Therapeutics Inc. (NASDAQ:DRTX) for $675 million in cash up front, or $23 per share, plus up to $146.5 million in regulatory and commercial milestones in the form of a contingent value right (CVR) worth up to $5 per share.

The deal includes antibiotic Dalvance dalbavancin, which Actavis said would complement its marketed Teflaro ceftaroline fosamil cephalosporin and ceftazidine- avibactam, a third-generation cephalosporin combined with a broad-spectrum beta lactamase ( LACTB) inhibitor, in the company's push to create a point-of-care anti-infective franchise. The deal also puts Actavis on course to compete in the space with Cubist Pharmaceuticals Inc. (NASDAQ:CBST). ...