BioMarin, Medicis deal

The companies amended the terms of BMRN's 2004 acquisition of Ascent Pediatrics, the pediatrics business of MRX (see BioCentury, April 26, 2004). As amended, the price paid by BMRN was reduced to $159 million from $175 million. The payment to MRX consists of license payments beginning in July for Ascent's Orapred, a corticosteroid to treat asthma in children, and a payment for the purchase of all outstanding shares of Ascent in 2009. The license fees were reduced to $88.4 million from $93 million, and the purchase price for Ascent was reduced to $70.6 million from $82 million. ...