United Therapeutics acquiring SteadyMed for $216M

United Therapeutics Corp. (NASDAQ:UTHR) is acquiring SteadyMed Ltd. (NASDAQ:STDY) for $4.46 in cash per share, plus an additional $2.63 per share tied to milestones, in a deal the partners said is valued at $216 million. The $4.46 price tag is a 68% premium to SteadyMed's close of $2.65 on April 27, before the deal was announced.

The milestones are tied to the commercialization of SteadyMed's Treyvent treprostinil. The prostacyclin analog of treprostinil delivered via subcutaneous Patch Pump technology is under FDA review to treat pulmonary arterial hypertension (PAH) (see BioCentury, July 12, 2017)...