The price is $144 million plus milestone payments.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) announced on Friday that it had completed the acquisition of NuPathe Inc. (Nasdaq: PATH). Teva is paying $3.65 per share in cash for NuPathe, or a total of $144 million. It will pay up to an additional $3.15 per share in milestone payments if specified net sales thresholds for NuPathe’s Zecuity treatment for acute migraine are achieved. These payments could reach $124 million.
80% of NuPathe's outstanding shares were tendered in the offer, which fulfilled the offer conditions.
NuPathe is now a wholly-owned subsidiary of Teva and delisted from Nasdaq.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013