Cephalon completes Lafon acquisition
US biopharmaceutical company Cephalon has completed thepreviously-announced acquisition of France's Group Lafon for $450 million in cash (Marketletter December 10). The deal gives the former control of worldwide rights to its flagship product, the narcolepsy treatment Provigil (modafinil). Lafon produces the active ingredient for the drug at its facilities in Mitry-Mory, France, and granted US licensing rights for Provigil to Cephalon in 1993.
Frank Baldino, Cephalon's chief executive, said the firm is pleased with the rapid closure of the transaction, noting that the process of integrating the two organizations, which began soon after the acquisition was announced, "is going extremely well." He added that the purchase of Lafon "will enable us to quickly and significantly strengthen our position in Europe.''
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