Changes Coming - Biogen Idec to Acquire Stromedix, Inc.
February 24th, 2012 | General » Blog »
Biogen Idec (“Biogen”) recently announced that it has completed a definitive agreement for the acquisition of Stromedix, Inc. The deal includes an upfront cash payment of $75 million and additional payments of up to $487.5 million to be determined based on specified developmental milestones. Biogen’s acquisition strengthens its dug development pipeline with STX-100, Stromedix’s idiopathic pulmonary fibrosis drug currently being tested in clinical trials.
This acquisition is another example of what is certain to continue over the next couple of years as companies scramble to acquire promising new drugs for their diminished pipelines in light of the looming patent cliff so many of them are facing. Read the entire article here.
-The Harbor Consulting Team