Piper Jaffray Downgrades Vitae Pharmaceuticals (VTAE) to Neutral
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September 20, 2016 10:32 AM EDT
By Carl O'Donnell
(Reuters) - Allergan Plc (NYSE: AGN) CEO Brent Saunders calls them "stepping stones" - small, bolt-on acquisitions, as opposed to the mega-deals common in the drug industry. And they're expected to boost dealmaking in sectors ranging from neurology to skin care.
Allergan's agreement on Tuesday to acquire liver drug developer Tobira Therapeutics Inc (NASDAQ: TBRA) for $1.7 billion may seem trivial compared to the proposed $160 billion deal Allergan crafted last year to sell itself to Pfizer Inc (NYSE:... More
September 20, 2016 8:22 AM EDT
By Ransdell Pierson and Natalie Grover
(Reuters) - Botox maker Allergan Plc, in its third acquisition this month, said it would pay up to $1.7 billion for Tobira Therapeutics Inc to get a leg up in the race to develop therapies for NASH, an incurable fatty liver disease closely linked to obesity.
Just hours later on Tuesday, Allergan announced it would also pay $50 million upfront and make future milestone payments for Akarna Therapeutics Ltd, a privately held company that is planning early-stage studies of a treatment for NASH.
There are no approved treatments for the disease affecting more... More
