TIWA pharmaceutical acquires nupathe to expand its central nervous system medicine business

Source: dingxiangyuan 2014-1-24 TIWA Pharmaceutical Co., Ltd will purchase nupathe Co., Ltd in cash of US $365 (or US $144 million) per share to expand its central nervous system (CNS) treatment drug portfolio TIWA said on January 21 that in addition to the early cash payment, if nupathe's migraine treatment drug zecuity finally gets the required sales, nupathe's shareholders will also be entitled to an additional $3.15 per share in cash Nupathe said the company had terminated its acquisition agreement with endo health solutions, and said that TIWA's offer was about 28% higher than Endo's previous cash payment and the equivalent number of milestone payment offers Zecuity is the only prescription drug approved by FDA for acute migraine in adults The drug can deliver sumatriptan through the skin TIWA pharmaceutical, the world's largest generic manufacturer, will now acquire nupathe's patented technology, including its transdermal delivery system "We think zecuity is very suitable for our existing CNS business unit in the United States, with short-term sales and obvious business potential," said Mike derkacz, general manager, CNS business, TIWA pharmaceutical Teva appointed Erez vigodman, an industry outsider, earlier this month to lead the company's turnaround, entering the branded drugs sector by trying to move beyond its ailing core business.