(Reuters) – U.S. biotechnology company Acorda Therapeutics Inc. (ACOR.O) announced on Tuesday an agreed $363 million cash bid for all of the shares in Finland’s Biotie Therapies (BTH1V.HE).
Acorda said the acquisition would expand its pipeline in Parkinson’s disease therapies.
The company will offer 0.294 euros for each Biotie share, a premium of about 95 percent compared with the closing price on Monday.
Biotie shares had jumped 79 percent to 0.27 euros by 0824 GMT (3.24 a.m. ET).
(Reporting by Tuomas Forsell; Editing by Jussi Rosendahl and Mark Potter)
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
