Sector News

Boston Scientific agrees to buy privately held Augmenix for $500 million

September 7, 2018
Life sciences

Boston Scientific Corp. said late Thursday it has agreed to buy privately held Augmenix Inc. for $500 million in cash and up to an additional $100 million for reaching sales milestones.

Augmenix has developed a therapy to reduce side effects related to prostate-cancer radiotherapy. Sales of the therapy are expected to reach $50 million this year and about $90 million in 2019, Boston Scientific said.

The deal is expected to close early in the fourth quarter, subject to customary closing conditions, and to be immaterial to adjusted per-share earnings this year and the next and accretive by 2020.

Shares of Boston Scientific rose 0.2% in the extended session after ending the regular trading day up 0.7%.

By Claudia Assis

Source: MarketWatch

comments closed

Related News

November 27, 2022

Merck agrees to acquire Imago for $1.35bn

Life sciences

Merck (MSD) has signed a definitive agreement for the acquisition of all outstanding shares of Imago BioSciences for a total equity price of nearly $1.35bn. A clinical-stage biopharmaceutical firm, Imago focuses on the development of new therapies to treat myeloproliferative neoplasms (MPNs) and other bone marrow ailments.

November 27, 2022

Novo Nordisk expands API capacity

Life sciences

Danish pharma Novo Nordisk has announced plans to invest 5.4 billion Danish kroner to expand its existing facilities in Bagsværd. The project will establish extra R&D capacity for manufacturing APIs to supply the company’s global clinical trials for oral and injectable products. The expansion is expected to be finished in 2024, creating about 160 new jobs.

November 19, 2022

Sequana announces results from study of direct sodium removal

Life sciences

Sequana, a company focusing on liver disease, heart failure and cancer has announced positive top-line results from SAHARA – the phase 2a study using its first-generation direct sodium removal (DSR) product, DSR 1.0. Data from ten evaluable diuretic-resistant heart failure patients confirmed long-lasting clinical benefits.