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