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Transcept Pharmaceuticals, Inc. (TSPT) Licenses Migraine Drug, But Rejects Martin Shkreli's Takeover Offer


9/26/2013 6:45:27 AM

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Transcept Pharmaceuticals Inc. rejected an unsolicited offer from Martin Shkreli's Retrophin Inc., the drug developer said Wednesday, as it licensed a migraine drug from a Japanese company.

Richmond-based Transcept (NASDAQ: TSPT) said in a press release that the $4-per-share offer is "not in the best interests of Transcept or its shareholders." It marks the second rebuff of the company founded by Shkreli, a 30-year-old health care hedge fund manager and activist shareholder.

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