Japan's Shionogi inks $1.4 billion US acquisition

The prescription drug firm buys specialised US company Sciele in the fourth Japanese outbound pharmaceutical deal in less than a year.

Japanese prescription drug firm Shionogi announced yesterday it will buy US-based Sciele Pharma for a firm value of $1.4 billion to gain distribution in the US.

Shionogi will pay $31 per share for all of ScieleÆs outstanding shares, translating into an equity value of $1.099 billion. The price is a 57% premium to Nasdaq-listed ScieleÆs six-month share price up to Friday, August 29, and a 61% premium to ScieleÆs closing price on Friday. Shionogi will also redeem $325...

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