Paladin Labs to Acquire Labopharm
Paladin Labs will purchase drug technology developer Labopharm in a deal valued at over $20.4 million.
Drug company Paladin Labs, Inc. announced Wednesday it has signed an agreement to acquire Canadian biotech company Labopharm in transaction valued at approximately $20.5 million. Labopharm’s board of directors has approved the transaction.
"The offer from Paladin provides compelling value, certainty and liquidity to our shareholders," said Santo J. Costa, chairman of the Labopharm board. "Following a comprehensive review of alternatives under the previously announced strategic review, the Board of Directors has concluded that this all-cash offer, which is at a significant premium to the trading price of Labopharm's shares, is the best way to maximize shareholder value."
"The acquisition of Labopharm represents a unique opportunity for us to further st
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