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Sciele Pharma, Inc. (SCRX), a Shionogi & Co., Ltd. Company, to Acquire Addrenex Pharmaceuticals, a U.S. Specialty Pharmaceutical Company


11/16/2009 10:36:14 AM

ATLANTA--(BUSINESS WIRE)--Sciele Pharma, Inc.: Sciele Pharma, Inc. (Head Office: Atlanta, Georgia, USA; President and CEO: Patrick P. Fourteau; hereafter “Sciele”), a U.S.-based group company of Shionogi & Co., Ltd. (Head Office: Osaka; President: Isao Teshirogi; hereafter “Shionogi”) and Addrenex Pharmaceuticals, Inc., (Head Office: Durham, North Carolina, USA; CEO: Moise A Khayrallah; hereafter “Addrenex”), a privately-held U.S. pharmaceutical company specializing in developing drugs that regulate the adrenergic system, today announced that Sciele has agreed to acquire Addrenex. The acquisition is in the form of cash, payable at closing. The total value of the deal is approximately $29 million to acquire the outstanding shares of Addrenex, excluding those previously owned by Sciele.

Read at BioSpace.com

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