Acorda Therapeutics has made an all-cash offer for Biotie at €0.2946 per share, a 95% premium to the previous close price, valuing the company at €321m (ex. options). Our last published valuation was €0.28/share. The timing of the deal is relevant in the context that the primary Phase III study for tozadenant in Parkinson’s disease (PD) patients is in early stages of recruitment and preliminary data are not expected until end 2017. Biotie’s board has recommended the offer and shareholders repres ....
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Biotie strikes Acord(a) with PD franchise
- Published:
19 Jan 2016 - Author:
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Pages:
2
Acorda Therapeutics has made an all-cash offer for Biotie at €0.2946 per share, a 95% premium to the previous close price, valuing the company at €321m (ex. options). Our last published valuation was €0.28/share. The timing of the deal is relevant in the context that the primary Phase III study for tozadenant in Parkinson’s disease (PD) patients is in early stages of recruitment and preliminary data are not expected until end 2017. Biotie’s board has recommended the offer and shareholders repres ....