Aerocrine develops therapies for airway inflammation such as asthma. British Circassia Pharmaceuticals has submitted a bid for the company, the Board unanimously recommends that shareholders accept.
The offer values Aerocrine to just under 1.8 billion. The deal is one of many in Europe and the US in the field of life science, life science, the recent past, where companies buy up competitors with similar or related activities.
– We are constantly seeking new synergies for faster products to market, says Jonas Ekstrand, CEO of the trade association Sweden Bio.
Circassia, who deal with allergy drugs, parallel bid for British Prosonix, operating in the same area as Aerocrine, reports Reuters.
The bid received Aerocrine shares to rise about 14 percent in early trading on the Stockholm Stock Exchange. The stock has risen sharply since the end of April, when the company confirmed that it was going talks on a takeover of a then unnamed party.
– Aerocrine is a good company. It is quite clear that they have been able to build something that is attractive in a global market, says Jonas Ekstrand.
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