(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)
The deal will see Microsoft use its capabilities in computational services, cloud computing and artificial intelligence to support drug discovery and development at UCB.
The planned closures come as GSK has agreed to sell its cephalosporins antibiotics business to Sandoz, a division of Swiss pharma firm Novartis, for as much as US$500m.
“The launch of these new formulations provides the nutritional market with much-needed alternative coating systems that address clean label consumer preferences and are easy to implement,” says Kelly Boyer, vice president film coatings at Colorcon.