Ipsen completes acquisition of Tercica
This article was originally published in Scrip
Executive Summary
Ipsenhas completed its acquisition of Tercica for $9.00 per share, or around $373 million, after 90% of the 68.5 million total votable shares were cast in favour of the acquisition at a special meeting held on October 16th. The acquisition of Tercica is part of Ipsen's "three steps to globalisation", which it announced in June, involving the acquisitions of Vernalis's US subsidiary, Vernalis Pharmaceuticals, and Octagen's assets related to OBI-1, a recombinant porcine Factor VIII, as well as Tercica. The Vernalis and Octagen acquisitions both closed in July.