12:00 AM
Dec 15, 2014
 |  BioCentury  |  Finance

Avanir Chronicles

Avanir Chronicles

Avanir chroniclesThe $17 takeout price Otsuka Pharmaceutical Co. Ltd. will pay for Avanir Pharmaceuticals Inc. (NASDAQ:AVNR) is only a 13% premium to the neurology play's close the day before the $3.5 billion deal was announced on Dec. 2. But it is more than double the price at which the shares traded in mid-September, before Phase II Alzheimer's data reported Sept. 15 sent shares up $5.75 (85%) to $12.49. Otsuka, which said the deal will accelerate its expansion in neurology, gets pseudobulbar affect drug Nuedexta dextromethorphan/quinidine and three pipeline compounds for AD, Parkinson's disease and other neurological conditions.Avanir - originally Lidak Pharmaceuticals - did not begin life as a CNS company: Its Abreva docosanol was approved as an OTC...

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