Friday, August 28, 2015

AstraZeneca to buy Princeton-based Omthera Pharmaceuticals for $443 million

AstraZeneca said Tuesday morning it agreed to pay as much as $443 million for Princeton-based Omthera Pharmaceuticals, which is close to being able to sell new treatment called Epanova for dyslipidemia, which is a lipid disorder with a heightened level of serum triglycerides that can contribute to heart disease.

AstraZeneca to buy Princeton-based Omthera Pharmaceuticals for $443 million

0 comments

AstraZeneca said Tuesday morning it agreed to pay as much as $443 million for Princeton-based Omthera Pharmaceuticals, which is close to being able to sell new treatment called Epanova for dyslipidemia, which is a lipid disorder with a heightened level of serum triglycerides that can contribute to heart disease.

AstraZeneca is based in the United Kingdom, but has about 2,000 employees at facilities in Wilmington and Newark, Del.

The drugmaker is searching for new medicine that will help compensate for revenue declines in other drugs that lost patent protection and exclusivity and now face generic compensation.

AstraZeneca will pay $323 million up front, and then perhaps as much as $120 million to shareholders based on sales reaching certain milestones. AstraZeneca's statement with more of the stock sale details is here.

“The number of people with elevated triglyceride levels is rising rapidly across the world, due in part to the increasing prevalence of obesity and diabetes," Pascal Soriot, AstraZeneca chief executive officer. "There is a clear need for effective and convenient alternatives to some of the existing treatments. Epanova offers real potential both as a distinctive monotherapy for the treatment of hypertriglyceridemia and in combination with Crestor for patients at high risk of adverse cardiovascular events. This is an exciting acquisition that clearly complements our existing portfolio in cardiovascular and metabolic disease, one of our core therapy areas."

 

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com or 215-854-4506.

David Sell
Also on Philly.com:
letter icon Newsletter